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Our Bureau

New Delhi , Aug. 4

THE proposal of Denmark-based Maersk A/S for setting up a joint venture company for redevelopment of bulk terminal and turn it into a container terminal involving foreign direct investment (FDI) worth Rs 317.80 crore was among the FDI proposals cleared by the Government on Wednesday

A total of 46 proposals involving FDI worth Rs 408.22 crore was approved by the Finance Minister, Mr P. Chidambaram, here. The proposals cleared include the Germany-based BMW Holdings' plan to convert Birla Home Finance Ltd into a wholly owned subsidiary by increasing its stake from the present 50 per cent to 100 per cent.

The Minister also okayed the Mauritius-based Two Seas Holdings Ltd's plan to invest Rs 20 crore in Juniper Hotels Pvt Ltd for developing a deluxe international five-star hotel in Mumbai.

The Government also approved proposals of Shell India and Nike.

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