Date:04/02/2005 URL: http://www.thehindubusinessline.com/2005/02/04/stories/2005020403500300.htm

Back Mauritius consortium among 24 FDI proposals cleared

Our Bureau

New Delhi , Feb. 3

THE Government on Thursday permitted a consortium of the Mauritius-based investment companies to pick up 38.35 per cent stake in Facor Alloys Ltd, involving foreign direct investment (FDI) worth Rs 7.52 crore.

The same consortium has also been permitted to pick up 30.05 per cent stake in Ferro Alloys Corporation Ltd, involving an FDI of Rs 6.14 crore.

A total of 24 FDI proposals worth Rs 33.81 crore were cleared today by the Finance Minister, Mr P. Chidambaram.

The Mauritius-based Spectrum Technologies and CLI Operations Company Ltd's proposal to invest Rs 9 crore in ST-CLI Coal Washeries Ltd for setting up coal washeries in Chhattisgarh has also been cleared by the Minister.

The Germany-based Rauschert Keramic Holdings Ltd's proposal to invest Rs 6.83 crore in Rauschert India Private Ltd for undertaking trading activities, too, has received the go-ahead from the minister.