No. 11(1)/2006-FIPB Government of India Ministry of Finance Department of Economic Affairs ( FIPB Unit ) *** North Block, New Delhi-110 001 Dated, the 22nd August, 2006. PRESS RELEASE Based on the recommendations of the Foreign Investment Promotion Board (FIPB) in its meeting held on 11th August, 2006, Finance Minister, Shri P. Chidambaram has approved 18 proposals of Foreign Direct Investment amounting to Rs.586.123 crore. These proposals relate to Ministries/Departments; namely Agriculture, Commerce, Information & Broadcasting, Industrial Policy & Promotion, Posts, Revenue, Shipping, Small Scale Industries, Telecommunications and Tourism. The major investment proposals pertain to the sectors of Agriculture and Small Scale Industries. The details of the proposals are enclosed. Sd/(RAM SHARAN) Under Secretary to the Govt. of India (FIPB) To Addl. Principal Information Officer, (Shri B.S. Chauhan) Ministry of Finance
FIPB MEETING HELD ON 11.8.2006 S.No.
Name & Address of the existing/proposed foreign company
Name & Address of the Indian company, if already incorporated
Activity
Location
Particulars of the proposal
FDI/NRI Inflows (Rs. In crore)
M/s. L.V. Trading India 2E Calcot House 2nd Floor, Tamarind Lane, Fort, Mumbai
Distribution of LVM products
Mumbai
To undertake retail trading of single brand products under the brand name of ‘Louis Vuitoon”,
5.70
To set up a new Joint venture company in engineering services related to oil and gas industry. Proposal attracts Press Note 1 (2005 series)
0.01
To set up a WOS to undertake trading of items
0.01
COMMERCE 1
M/s. Louis Vuitton Malletier 2 rue du Pont, Neuf Paris Cedex 1 France
Retail trade of LVM brand products including writing instruments, diary refills paper, shoes, trunks/ travel bags/purses, leather items, sunglasses, watches, other articles of plastic, jewellery imitation, ties, textile (scarfs and shawls), umbrellas and ready-to-wear
INDUSTRIAL POLICY & PROMOTION 2
M/s. Saipem SpA
Setting up of a new JV
Via Martiri di Cefaloria 67 20097 San Donato Milanese (MI) Italy
3
M/s. Halosource International Inc. 14716 NE 87 Street Redmond,
New WOS M/s. Halosource Technologies Private Limited
Business of engineering Not services to the oil and indicated gas industry in India ad worldwide, including basic engineering, detailed engineering, drafting and procurement of selected items for the execution of Oil & Gas projects both onshore and offshore Trading of items Bangalore sourced from small scale and/or large scale
4
WA 98052, USA
Srinidhi 43/61, Ist Floor Surveyors Street, Basavanagudi, Bangalore
industries. Providing germ killing solutions in the product categories of safe water, infection control and wound healing.
M/s. Lifestyles International Holding Corporationi Unit 6 Ragged Staff Wharf Queensway Quay Gilbratar
New WOS
Third party contract manufacturing preferably small scale industries to manufacture its products in India. Test marketing & distribution of health, wellness and homecare products, Marketing consultancy. Import products for test marketing. Export of finished products to overseas sister companies
sourced from small scale and/or large scale industries. And payment of Technical knowhow fees and royalty up to 21% (net of taxes) of the sale price of HaloPure in India for use of the technology, know-how trademarks, trade secrets and copyrighted literature. Not indicated
To set up a WOS to undertake third party contract manufacturing preferably small scale industries to manufacture its products in India. Test marketing & distribution of health, wellness and homecare products. Marketing consultancy & Training. Import products for test marketing. Export of finished products and training and
4.5
motivational materials to overseas sister companies.
POSTS 5
M/s. DPEX Ventures Pte. Ltd. 1, Changi South Street 1 Singapore
M/s. DPEX Worldwide Express Private Limited New No. 22, Old No. 11 Main Street, Dr. Thirumoorthy Nagar, Nungambakkam, Chennai – 34
Transport, storage and communication services (Courier activities other than Post )
Chennai
Transfer of shares from resident to nonresident in an existing Indian company engaged in transport storage and communication of materials (courier services other than post)
0.153
M/s. Ameya Logistics Private Limited 4th Floor, Hamilton House 8, J N Heradia Marg Ballard Pier Mumbai
Developing/ setting up Raigad, Induction of state of the art container Maharahstra foreign equity freight station upto 50% of the equity of the company by way of subscribing to 24,99,999 fresh equity shares of M/s. Ameya Logistics Pvt. Ltd. (Proposal attracts Press Note 1 (2005 series)
2.50
M/s. Assam Company Ltd. 52, Chowringhee Road, Kolkata – 700 071
Cultivation, manufacture and sale of tea. Also exploration of oil and natural gas
345.00
SHIPPING 6
M/s. CMA CGM SA 4, quai d’Arenc 13235 Marseille cedex 02 France
AGRICULTURE 7
M/s. Lotus Global Investments Ltd, Mauritius M/s. Duncan Macneill (Holdings ) Ltd, UK M/s. Mavi Investment Fund Limited, Mauritius
Kolkata
Issue of FCCBs amounting to US $ 75 million for investment in oil exploration activities.
M/s. Invest India (Mauritius) Limited Mauritius
INDUSTRIAL POLICY & PROMOTION 8 9
M/s. Dell International Inc. One Dell Way, Pound Rock Texas, USA M/s. Sodexho S.A. France
M/s. Dell India Pvt. Ltd. Bangalore
Bangalore To undertake online sales of IT sector products Engaged in Services in Mumbai Deletion of the management clause 5 of the service vouchers FC approval related to divestment to enable it to buy back 26% equity from employees’ welfare fund
No fresh inflow
M/s. Flemingo Dutyfree Shop Pvt. Ltd.
To set up a duty free sops at airports, sea ports
Omnibus sanction for operating duty free shops in India in the international Airports, sea Ports and Border Posts with prior approval of Department of Revenue
No fresh inflow
M/s. r-pac India Pvt. Ltd. A500 T.T.C. Industrial Area M.I.D.C., Mahape, Navi Mumbai – 400 710
Manufacture of garment Maharashtra To undertake trims, labels & additional packaging accessories activities including woven and involving printed labels, printed manufacturing of hand tages, leather items reserved patches & heat transfer for small scale labeling, buttons, sector zippers, poly bags & hangers.
No fresh inflow
M/s. Sodexho India Private Limited M-71, 2nd Floor M Block Market, Greater Kailash Part II New Delhi –48
Offering on-line sales
4.00
REVENUE 10
M/s. Flemingo International Ltd. A British Virgin Islands company based in Dubai
Chennai Visakha patnam, Haldia, Goa, Delhi, Trichy
SMALL SCALE INDUSTRIES 11
M/s. r-pac International Corporation, USA
12
M/s. Huntsman Investments (Netherlands) BV Netherlands
13
M/s. Zepter International Trading Holding AG Sihleggstr 23, CH- 8832 Wollerau Cyprus
M/s. Huntsman International (India) Pvt. Ltd. Plot No. 1/1, TTC Indl. Area Thane Belapur Road P.O. Box. 12 Koparkhairne, Navi Mumabi – 400 710, Maharashtra M/s. Salute Trading Private Limited (Zepter International India Pvt. Ltd. ) C-83, Neeti Bagh, August Kranti Marg, New Delhi – 49
To undertake additional activities relating to textile effects business
M/s. Bharti Tele venture Ltd. ( changed to M/s. Bharti Airtel Ltd.) Qutab Ambience Near Qutab Minar, H-5/12, Mehrauli Road New Delhi – 30
Promotion of activities relating to the telecom sector
M/s. Choice Hospitality (India) Pvt. Ltd. 4/11, Shanti Niketan, New Delhi - 21
Hotel Industry
To carry out direct selling business of cookware, pots, pans and kitchen tools etc.
Mumbai
change from operating to holding cum operating company, by acquiring existing Indian company
122.50
Bangalore and other offices all over India
Sourcing of items locally from Small Scale Industries and manufacturing of products reserved for Small Scale Sector. Also to undertake direct selling business
90.00
Clarification with regard to Direct and indirect holding of M/s. Vodafone International Holdings BV & M/s. Vodafone Mauritius Ltd; and taking note of revised aggregate foreign holding
No fresh inflow
Payment of enhanced reservation fee as per revised master franchise agreement
No fresh inflow
TELECOMMUNICATIONS 14
M/s. Brentwood Investment Holdings Ltd, Mauritius and 9 more companies
New Delhi
TOURISM 15
M/s. Choice Hotels International Inc. 10750 Columbia Pike Silver Spring, Maryland 20901
Not indicated
INFORMATION & BROADCASTING 16
M/s. Star ISP Limited 10, Frere Felix de Valois Street, Port Louis, Mauritius
M/s. PPV Movies & Content Pvt. Ltd. The Masterpiece, 4th floor, Marol Naka, Andheri Kurla Road, Andheri (E), Mumbai – 59
Undertaking the business of creating, owning and distributing non ‘news and current affairs’ television channels
Mumbai
17
M/s. Star News Broadcasting Ltd. P.O. Box 957, Offshore incorporation center, Road Town, Tortola, British Virgin Islands
M/s. Touch Tele Content (India) Pvt. Ltd. The Masterpiece, Marol Naka, Andheri-Kurla Road, Andheri (East), Mumbai – 59
Undertaking the business of creating, owning and distributing non ‘news and current affairs’ television channels
Mumbai
18
M/s. Star ISP Limited 10, Frere Felix de Valois Street, Port Louis, Mauritius
M/s. Star Games Development Company Pvt. Ltd. The Masterpiece, 3rd Floor Marol Naka, Andheri kurla Road Andheri (E), Mumbai –59
Undertaking the business of creating, owning and distributing non ‘news and current affairs’ television channels
Mumbai
Transfer of shares from resident to nonresident and further induction of funds by way of subscribing to shares. Proposal also attracts Press Note 1 (2005 series) To undertake additional activities of business of creating, owning and distributing non ‘news and current affairs’ television channels. Proposal also attracts Press Note 1 (2005 series) Transfer of shares from resident to nonresident and further induction of funds by way of subscribing to shares. Proposal also attracts Press Note 1 (2005 series)
9.00
No fresh inflow
2.75
