Home » Govt clears 14 FDI proposals worth Rs 13 bn

Govt clears 14 FDI proposals worth Rs 13 bn

Govt clears 14 FDI proposals worth Rs 13 bn

Mumbai-based Hindustan Port received government approval to receive foreign funds worth Rs 440 crore for investment in downstream companies.

The above plan is part of the 14 foreign direct investment (FDI) proposals worth about Rs 1,311.60 crore approved by the government recently based on the recommendations of Foreign Investment Promotion Board (FIPB).

The FIPB, headed by Economic Affairs Secretary Arvind Mayaram, has also allowed pharma company Aanhaneya Lifecare to raise funds worth Rs 405 crore through issue of foreign currency convertible bonds.

Among other proposals include NRI investment worth Rs 210 crore in Excedo Reality Fund-I and Rs 125 crore foreign equity infusion into the Bangalore-based Syngene International.

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