Rs 527.46 cr FDI proposals cleared, Goldman

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New delhi, Nov 23 (UNI) The government today approved 22 foreign direct investment (FDI) proposals worth Rs 527.46 crore, including Goldman Sachs and Macqarie's investment of Rs 62.29 crore for 40 per cent stake in Power Trading Corporation (PTC) India Financial.

Finance Minister P Chidambaram has given his nod for the Foreign Exchange Promotion Board's (FIPB) proposal of Goldman and Macqarie to invest in PTC to make downstream investment in Indian companies engaged in energy and related infrastructure sectors.

The proposal of International Finance Corporation (IFC) to invest Rs 152 crore in Angel Infin Pvt Ltd towards 18 per cent stake has also been approved.

The government has permitted Sical Infra Assets Ltd to induct 26 per cent foreign equity amounting Rs 106.60 crore Yachiyo Industry Co Ltd of Japan has been allowed to set up a new wholly-owned subsidiary to undertake manufacture of plastic fuel tanks for automobiles worth Rs 30 crore.

CWT International Pte Ltd's proposal to invest Rs 24 crore and UPM Kymmene OYZ of Finland investment of Rs 14.50 crore have also been approved.

The US-based Croupier Prive Private Equity Fund has been permitted to invest Rs 16 crore for a five per cent stake in Central Depository Services Ltd.

Japanese firm Metal One Corporation, a subsidiary of Mitsubishi Corporation and Palfinger Asia Pacific Pte Ltd have been allowed to invest Rs 2.90 crore each towards their business in the country.

UNI

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