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NEW DELHI, July 22

SUZUKI Motor Corporation's plan to acquire 51 per cent stake in the Haryana-based Integra Overseas Private Ltd to manufacture, assemble and service two and three wheelers was among the foreign direct investment (FDI) proposals cleared by the Government today. Suzuki, however, will not bring in any fresh funds for this purpose, according to an official release.

The proposal from JP Morgan International Finance Ltd for undertaking non-banking financial activities involving fresh inflow of investments worth Rs 175 crore too was approved.

Following recommendations from the Foreign Investment Promotion Board (FIPB), the Minister for Finance and Company Affairs, Mr Jaswant Singh, here today cleared 44 FDI proposals involving a combined investment of Rs 222.18 crore.

The proposal from Hitachi Metals Ltd for setting up a wholly-owned subsidiary with investment worth Rs 20 crore for design, manufacture and sale and distribution of soft magnetic metals and components has been cleared.

The Minister has also permitted the Finland-based Nokia Networks to undertake cash and carry wholesale trading in mobile handsets by altering its original terms of test marketing.

The proposal from the Bermuda-based Siva Limited to invest Rs 10 crore in Chennai-based AIWO Limited was also cleared by the Minister along with the Washington-based SEAF Management Ltd's plan to set up a wholly-owned subsidiary.

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