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29 FDI tenders gain Indian government authorization

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Finance Ministry sources said to the www.propertykhazana.com that, “The Govt. sanctioned 29 foreign direct investment (FDI) plans which cost about Rs. 620 Crores comprising AAPC Singapore’s about Rs. 670 Crores hotel venture. AAPC proposals to develop a total possessed limbs in India for its hospitality venture.” Govt. had also permitted ABG Bulk Handling’s proposals to exchange its working company into a working-cum-holding conglomerates and it offered to make posterior investments for about Rs. 95 Crores. Other plans clarified by the Govt. comprise of about Rs. 55 Crores investment plan of Cinema Capital Ventures Fund, US based Telcordia Technologies planned to introduce foreign equity for about 80% in the mobile number motility solutions business and Telcorida planned to invest about Rs. 50 Crores for its Indian operation.
As per to the sources saying @ the www.propertykhazana.com, FDI plans are clarified by the Govt. on the basis of Foreign Investment Promotion Board’s (FIPB) recommendations. Board was formed by the top officers of economic ministries, panels such FDI plans where previous Govt. sanction is needed. FIPB, but delayed Gurgaon based realty company Unitech’s plan to make posterior investments in realty segment and it also delayed other 18 purposes comprising FDI plans of major companies. For more and latest realty updates visit www.propertykhazana.com.
Source: NBTVLIVE

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