Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on March 6, 2013, the government cleared six proposals of Foreign Direct Investment (FDI) amounting to Rs 732.77 crore approximately.
The proposal includes, among others, the plan of Navayuga Road Projects , Hyderabad to act as an investing company and to make downstream investments in its Special Purpose Companies worth Rs 357.60 cr.
It also includes the proposal of AirAsia Investment, Malaysia to set up a joint venture (JV) company to undertake the business of operation of scheduled passenger airlines. The proposal involves Rs 80.98 cr FDI.
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