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Government approves 26 FDI proposals
The Union Government approved 26 FDI proposals on 20 March 2009, amounting to Rs 1,042 crore on the recommendation of Foreign Investment Promotion Board.
Government has approved Neo Sports Broadcasting's proposal to induct Rs 259 crore of foreign investment in a company engaged in the business uplinking and broadcasting of non-news and current affairs' of television channels.
John Deere Construction and Forestry, a subsidiary of Deere and Co. has got approval for setting up a joint venture with an investment of Rs 84 crore for manufacturing construction equipment.
A proposal from NSK Holdings to infuse Rs 214.49 crore to make downstream investment has also been cleared, while Samvardhana Motherson Finance’s plan to invest Rs 208.53 crore to increase equity participation was among the 26 proposals cleared.
Source: Business Standard