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Centre approves 9 FDI proposals
August 16, 2008: The government has approved nine FDI proposals amounting to Rs.294.46 crore. It includes Singapore-based aluminium firm Rio Tinto's Rs.148.57 crore proposal to set up a plant.
Major proposals that were approved include JP Morgan's Rs.100 crore plan to invest in hotel and hospitality sector and Hathway Cable Systems’ proposal to invest Rs.43.06 crore to issue compulsorily convertible debentures (CCDs).
The FIPB deferred six proposals including that of ABN-Amro Securities and Aditya Birla Telecom.
Source: Financial Chronicle