New Delhi, Aug 22: The government on Thursday approved a slew of foreign direct investment proposals worth Rs 193 crore including one by global courier service major DHL Worldwide to enhance stake in its domestic arm. Under the proposal, DHL Worldwide would hike foreign equity component in DHL Worldwide Express India from 51.85 per cent to 97.4 per cent involving an investment of Rs 105 crore, an official release said.
Finance Minister Jaswant Singh gave his nod to 19 proposals which were cleared by Foreign Investment Promotion Board (FIPB) pertaining to chemicals, mining, posts and telecommunications sectors.
A proposal by Rio Tinto Minerals to raise foreign equity in ACC Rio Tinto to 90 per cent at an estimated cost of Rs 25 crore was also given a go-ahead.
ACC Rio Tinto would undertake exploration of minerals including gold, silver, diamonds, copper, lead, zinc and bauxite.
Comoretel Holdings received a green signal for setting up a wholly-owned subsidary to support efforts of MTNL, BSNL, VSNL and other service providers in providing international toll free services from India involving an invetsment of Rs 25 crore.
A proposal by French oil giant Total S A to acquire 76.1 per cent equity in Helles Investment and Cray Valley Resins by the wholly-owned subsidiary was also approved.
Thomson Asia Pacific Holdings was given the green signal for introduction of CTVs through Thomson Multimedia Private Ltd. Bureau Report