Press Esc to close
Monday 24 November 2014
News updated at 2:33 PM IST
Weather
Max: 0°C
Min : 0°C
In Bengaluru
Sunny day

Six FDI proposals worth Rs.732.77 crore approved

New Delhi, March 26, 2013 (IANS):

The government Tuesday said it has approved six proposals of foreign direct investment (FDI) amounting to Rs.732.77 crore.

The Foreign Investment Promotion Board (FIPB) headed by Economic Affairs Secretary Arvind Mayaram had cleared the FDI proposals at a meeting held March 6.

"Based on the recommendations of FIPB in its meeting held on March 6, 2013, the government has approved six proposals of FDI amounting toRs.732.77 crore," the finance ministry said in a statement.


The highest amount of overseas fund inflow is related to an Hyderabad-based infrastructure firm Navayuga Road Projects. The company is investing Rs.357.60 crore to make downstream investments in its special purpose companies.

This is followed by Mumbai-based SIDBI Social Venture Trust, which has got approval to receive Rs.285 crore foreign investment to allot 'Class A' units of the fund to bring foreign investment.

The government also approved Malaysian budget carrier AirAsia's proposal to set up a new airline in the Indian civil aviation sector with partners like the Tata Group and Arun Bhatia promoted Telestra Tradeplace.

The initial investment approved for the new airline stands at Rs.80.98 crore.
The government has also deferred seven proposals and rejected one.

Go to Top

Photo Gallery
Mercedes F1 driver Lewis Hamilton of Britain celebrates after winning the Abu Dhabi F1 Grand Prix

Mercedes F1 driver Lewis Hamilton of Britain celebrates after winning the Abu Dhabi F1 Grand Prix

Winners of Delhi Half Marathon 2014

Winners of Delhi Half Marathon 2014

Elderly women take part in Tug-of War during annual month long sports competition...

Elderly women take part in Tug-of War during annual month long sports competition...

A tigress in a playfull mood at the Maharajbag Zoo in Nagpur, Maharashtra...

A tigress in a playfull mood at the Maharajbag Zoo in Nagpur, Maharashtra...

Indian Air Force (IAF) Sukhoi Su-30 fighter aircrafts make a formation in the shape...

Indian Air Force (IAF) Sukhoi Su-30 fighter aircrafts make a formation in the shape...

Players during the 3rd day of IBSF World Snooker Championship in Bengaluru...

Players during the 3rd day of IBSF World Snooker Championship in Bengaluru...

Interim President, BCCI Shivlal Yadav felicitates Indian cricketer Rohit Sharma at the BCCI...

Interim President, BCCI Shivlal Yadav felicitates Indian cricketer Rohit Sharma at the BCCI...

Migratory birds arrive to make nest at tree at Islampur in Birbhum district of West Bengal...

Migratory birds arrive to make nest at tree at Islampur in Birbhum district of West Bengal...

Decommissioned warship, INS Vikrant being wrecked at Darukhana ship breaking yard in Mumbai...

Decommissioned warship, INS Vikrant being wrecked at Darukhana ship breaking yard in Mumbai...

Indian Air Force (IAF) helicopters make a formation during a parade for presentation...

Indian Air Force (IAF) helicopters make a formation during a parade for presentation...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523