Finmin clears 3 FDI proposals worth Rs 3,250 cr

Finmin clears 3 FDI proposals worth Rs 3,250 cr

New Delhi, May 11 (PTI) The finance ministry today said it cleared three foreign direct investment (FDI) proposals worth Rs 3,250 crore in April.

The proposals included that of Hindustan Infralog Pvt Ltd which sought approval for foreign investment from DP World Global Investment BV, Netherlands amounting to 65 per cent of paid-up share capital.

The proposal of Hindustan Infralog Pvt Ltd will bring FDI up to Rs 3,250 crore, a Finance Ministry statement said.

The other two proposals CVC Asia Pacific (Singapore) Pte and Alcon Laboratories (India) Pvt Ltd cleared by the Finance Ministry will not result in flow of FDI.

Besides, it rejected the proposal of Kora Research Advisors India LLP.

The Finance Ministry has sought further information in case of proposals of Northvale Capital Partners Private Limited which intends to acquire up to 100 per cent of the share capital of a non-operational investment holding company Vadodara Stock Exchange Limited, a derecognised stock exchange. PTI DP MR MR