Industry & Economy
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Foreign Direct Investment
Toyo Denso among 30 FDI plans cleared
Our Bureau
New Delhi
,
Jan. 25
THE Japan-based Kansai Paints Company Ltd's proposal to acquire shares of Goodlass Nerolac Paints through secondary market transactions involving foreign direct investment (FDI) worth Rs 104.27 crore was among the various FDI proposals approved by the Government on Tuesday.
A total of 30 FDI proposals involving investments worth Rs 305.29 crore were okayed by the Finance Minister, Mr P. Chidambaram.
The California-based Farallon Capital Management's plan to invest Rs 79.63 crore in Indiabulls Credit Services Ltd for undertaking NBFC activities too has been cleared by the Government.
The Switzerland-based Visa Comtrade's proposal to invest Rs 45.31 crore in Visa Industries for setting up a steel plant in Orissa has been approved.
The Japan-based Toyo Denso Company Ltd's plan to set up a wholly-owned subsidiary involving an investment of Rs 28 crore for manufacturing components and parts for motor vehicles, motor cycles and generators too has been okayed.
The UK-based BG Energy Holdings' plan to set up a wholly-owned subsidiary to undertake power trading involving FDI worth Rs 21.79 crore has also received the green signal from the Government.
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