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FIPB clearances to 13 FDI proposals
June 14, 2008: The finance minister has approved 13 FDI proposals worth Rs.1,524.70 crore on the recommendation of the Foreign Investment Promotion Board (FIPB).
The government has approved proposal sent by ArcelorMittal to convert its operating company in India to operating-cum-holding company in order to make downstream investment. Golboot Holdings, a Cyprus based company’s proposal to invest Rs.700 crore in Mahindra and Mahindra has also been approved.
Source: Tribune