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Rs. 168 cr. FDI proposals cleared

By Our Special Correspondent

NEW DELHI JUNE 9 . The Government has cleared another batch of 18 proposals envisaging foreign direct investment (FDI) inflow of Rs. 168 crores, including the Rs. 78.50 crore investment by the Florida-based Creative IT in issuing fresh shares as cash.

The U.S. company plans to operate from Gujarat and will design, engineer, finance, build and market infocity projects, according to an official statement here.

Other proposals pertain to manufacture and export of agro chemicals, contract research, hotels, health tourism and software development that were cleared by the Union Finance Minister, Jaswant Singh, on the recommendations of the Foreign Investment Promotion Board.

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