The government today cleared foreign direct investment (FDI) proposals worth Rs 880 crore including a Rs 87.36 crore proposal of CLP PowerGen India for setting up a power project and a proposal of Compagnie De Saint Gobain of France worth Rs 212.5 crore to set up an Internet website for trading targeted at the chemical industry.
The PowerGen proposal is for the establishment of a gas-based mixed fuel combine cycle power project and proposes to increase equity from 88 to 100 per cent, according to an official statement.
The major investment proposals cleared by the commerce and industry minister Murasoli Maran pertain to non-banking financial company activities, setting up of a technology park, establishment of a gas-based power project, the edible oil industry and the infrastructure sector.
The government also cleared Koshika Telecom Ltd
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