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Our Bureau

New Delhi, Sept. 18

The Government on Monday approved Rs 405 crore foreign direct investment (FDI) by BG Energy Holdings Ltd for setting up three wholly owned subsidiaries in Andhra Pradesh, Karnataka and Tamil Nadu, with Rs 135 crore investment in each for setting up gas distribution and transmission infrastructures.

The Finance Minister has approved a total of 26 FDI proposals involving FDI worth Rs 992.84 crore, according to an official release.

The other proposals approved include Rs 342 crore additional investment infusion plan by Japanese Mitsubishi Chemicals and its group companies in MCC PTA India Corporation in West Bengal.

The Russia-based JSC Technochim Holding's plan for investing Rs 192.5 crore in the Kolkata-based Saraf Agencies for 55 per cent stake in the company to manufacture titanium products has also been approved by the Minister.

The proposal from the US-based Timken to set up a wholly owned subsidiary with Rs 49.5 crore FDI to undertake manufacturing of specialised bearing product has also received the go-ahead from the Minister.

More Stories on : Policy | Foreign Direct Investment

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