Economy

Enam India's Rs 3,450-cr FDI proposal gets Cabinet nod

Our Bureau New Delhi | Updated on February 11, 2011 Published on February 11, 2011

The Cabinet Committee on Economic Affairs (CCEA) on Thursday gave its nod for Mauritius-based Enam India Infrastructure Fund Ltd to bring in foreign direct investment (FDI) to the tune of Rs 3,450 crore into the country.

The Mauritius entity will invest in and subscribe to the class A units to be issued by Enam India Infrastructure Fund. The Foreign Investment Promotion Board (FIPB) had in mid-December last year recommended the Enam proposal for approval of the CCEA. The CCEA approval was required as the FDI proposed was in excess of Rs 1,200 crore.

The funds received are expected to be invested in equity and equity-linked investments in infrastructure and energy sectors, an official release said.

Enam India Infrastructure Fund's proposal was among the major ones recommended by FIPB during 2010. The other big ticket proposals approved by FIPB in 2010 were India Infrastructure Development Fund, Oman Refineries and AES India Holdings.

krsrivats@thehindu.co.in

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Published on February 11, 2011
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