Foreign investment proposals worth Rs.892 crore cleared

July 17th, 2009 - 8:37 pm ICT by IANS  

New Delhi, July 17 (IANS) The government Friday cleared 16 foreign direct investment (FDI) proposals valued at Rs.891.71 crore, the bulk of them for by a power project, the government said Friday.
The proposals were cleared on the recommendations of the Foreign Investment Promotion Board (FIPB), which met here July 10, a finance ministry statement said.

Delhi-based power company Teesta Urja has been allowed FDI investments worth Rs.547.2 crore through regularisation of allotment of equity shares on a partly-paid basis.

KVK Energy and Infrastructure of Hyderabad has been allowed to raise additional FDI worth Rs.116 crore from an existing investor.

Mumbai-based IL&FS Trust Co has been allowed to raise Rs.108 crore so it can continue to hold stake in the Multi Commodity Exchange of India.

Thirteen proposals were deferred, which included/vt proposals from Jindal Saw, Vijay Mallya-promoted United Breweries, Unitech Wireless and Dish TV.

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