CCEA approves Hilton JV with DLF

New Delhi, Nov 23 (UNI) The Cabinet Committee on Economic Affairs today gave its approval to M/s Hilton International Company to invest in a Joint Venture Compnay with DLF with a foreign equity of 26 per cent.

The total inflow of foreign investment as a result of this transaction is Rs 773.10 crore, Finance Minister P Chidambaram told a news conference here relating to the CCEA meeting this evening.

Mr Chidambaram said a chain of Hilton hotels will come up in the country giving a boost to tourism.

As the Joint Venture proposal involved a foreign investment flow of more than Rs 600 crores, it went before the CCEA for approval.

UNI GS RP ND2124