Govt. approves Rs 250 crore-worth FDI

New Delhi, Nov 6 (UNI) The Finance Ministry has approved 32 Foreign Direct Investment (FDI) proposals worth nearly Rs 250 crore, including those of Walt Disney Company, Yahoo Inc. and the Swedish Volvo Bus Corporation.

The Walt Disney proposal for Rs 140.62 crore is to own and operate general entertainment television channel targeted at children with permission to uplink from India.

The Yahoo investment proposal does not have any fresh inflow of funds, but it seeks to undertake additional activities of providing infotainment content services including multimedia content.

The Rs 27.20 crore Volvo proposal is for setting up a new joint venture company in Hoskote, Bangalore to develop, assemble, manufacture (including export) and sale of bus and coach bodies.

The Japanese Honda Motors has also received the nod for using management expertise from the company in spare parts operations management and exports operations management in the country. The Honda proposal is for Rs 10 crore.

Other proposals include those from the London-based Sage Publications and the Kuoni Travel Holding, Switzerland.

The proposals had been recommended earlier by the Foreign Investment Promotion Board.

UNI FZ VA DB2142