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Govt. approves 18 FDI proposals worth over 
2,245 Crore
Friday, 23 July 2010, 23:16 IST |
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New Delhi: The government has approved 18 foreign investment proposals worth 
2,245.32 crore, with the major inflow being accounted for by Transcend Infrastructure for setting up communication and broadcasting towers business.
Transcend Infrastructure (TIL) proposal entails FDI inflow of 1,932 crore, a finance ministry statement said.
The company plans to build, acquire and lease towers for the communications and broadcasting sectors, it added.
Meanwhile, the government has rejected 10 proposals, including those of Mahindra & Mahindra, INX Media, Telcordia Technologies and Siemens.
Besides, 21 other proposals have been deferred and involve companies like Wipro, Zee Entertainment Enterprises, Jagran Media Network, Essar Capital Holdings (India) UTStarcom India Telecom Pvt Ltd and Verizon Communications India.
The other proposals cleared include that of Frigorifico Allana Ltd for setting up a JV, involving FDI of 125 crore.
The proposal of GETIT Infoservices, involving FDI of Rs 96 crore, has also been cleared. The company plans to increase foreign equity and undertake "additional activity relating to publishing", the statement said.
Other FDI proposals cleared include: Nisarg Building Art & Technology ( 51.81 crore), Turquoise Metals & Electricals ( 10.36 crore), Modi Naturals ( 7.92 crore), NTT Communications Corporation ( 7.4 crore), Mcnally Sayaji Engineering ( 6.23 crore) and Telstra Pvt Ltd (Rs 5.54 crore).
Source: PTI
2,245.32 crore, with the major inflow being accounted for by Transcend Infrastructure for setting up communication and broadcasting towers business.
Transcend Infrastructure (TIL) proposal entails FDI inflow of 1,932 crore, a finance ministry statement said.
The company plans to build, acquire and lease towers for the communications and broadcasting sectors, it added.
Meanwhile, the government has rejected 10 proposals, including those of Mahindra & Mahindra, INX Media, Telcordia Technologies and Siemens.
Besides, 21 other proposals have been deferred and involve companies like Wipro, Zee Entertainment Enterprises, Jagran Media Network, Essar Capital Holdings (India) UTStarcom India Telecom Pvt Ltd and Verizon Communications India.
The other proposals cleared include that of Frigorifico Allana Ltd for setting up a JV, involving FDI of 125 crore.
The proposal of GETIT Infoservices, involving FDI of Rs 96 crore, has also been cleared. The company plans to increase foreign equity and undertake "additional activity relating to publishing", the statement said.
Other FDI proposals cleared include: Nisarg Building Art & Technology ( 51.81 crore), Turquoise Metals & Electricals ( 10.36 crore), Modi Naturals ( 7.92 crore), NTT Communications Corporation ( 7.4 crore), Mcnally Sayaji Engineering ( 6.23 crore) and Telstra Pvt Ltd (Rs 5.54 crore).
Source: PTI