NYSE Euronext to invest Rs 218 cr in commodity exchanges: Govt
New Delhi, May 2 (UNI) The proposal of NYSE Euronext, US, to invest Rs 218.51 crore in commodity exchanges in India was among the 15 such applications, involving a total FDI of Rs 308.57 crore, approved by Finance Minister P Chidambaram, the Ministry announced today.
The proposals were cleared on the recommendations of Foreign Investment Promotion Board (FIPB) made at its meeting held on April 25.
The other proposals relate to the Ministries and Departments of Chemicals and Petro-Chemicals, Commerce, Industrial Policy and Promotion, Information and Broadcasting, Textiles, Steel and Economic Affairs.
The commodity exchange proposal includes the premium amount.
Another application relates to Images Multimedia Pvt Ltd, New Delhi, for induction of foreign equity up to 26 per cent in a company engaged in the publication of specialty magazines. The FDI involvement is worth Rs 33.37 crore.
Metal One Corporation, Japan, plans to invest Rs 32 crore (8 million dollars) to set up a new WOS. The proposal attracts Press Note 1 (2005 series).
Under another proposal cleared, TRW Aftermarket Asia Pacific Pte.
Ltd, Singapore, would induct foreign equity up to 49 per cent in a company engaged in the manufacture of automobile components. The proposal attracts Press Note 1 (2005 series). The amount involved is Rs 21.20 crore (5.3 million dollars).
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