Industry & Economy
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Foreign Direct Investment
Flextronics among 48 FDI plans cleared
Our Bureau
New Delhi
,
Sept. 30
SINGAPORE-based Flextronics International Ltd's plan to acquire 100 per cent stake in Chennai-based Future Software Ltd involving foreign direct investment worth Rs 185.04 crore was among the various FDI proposals cleared by the Government on Thursday.
The Finance Minister, Mr P. Chidambaram, has approved a total of 48 foreign investment proposals involving FDI worth Rs 305.90 crore.
The proposal from US-based Honeywell International Inc to set up a wholly-owned subsidiary for manufacture, market and export industrial and automotive turbo chargers and exhaust gas coolers involving FDI worth Rs 46.2 crore was also okayed by the Minister.
He also gave the green signal to British Virgin Island-based Beyond Limit International Ltd to invest Rs 21.85 crore in Kolkata-based Debalakshmi Abasan Pvt Ltd to set up a joint venture company for developing satellite township in West Bengal.
A proposal from Japan-based Eisai Company Ltd to set up a wholly-owned subsidiary for manufacture and marketing of drugs and to undertake research and development of new drugs involving FDI worth Rs 10.26 crore has also been okayed by the Minister.
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