42 FDI proposals worth Rs 218 crore cleared by government

NEW DELHI: The government on Thursday cleared 42 foreign direct investment proposals worth Rs 218-crore, including a Rs 102-crore proposal pertaining to the issue of 20 million warrants on preference basis in Mumbai-based Silverline Technologies.
The proposals were cleared by Commerce and Industry Minister Murasoli Maran on the basis of recommendations made by the Foreign Investment Promotion Board, an official release said here.
A Rs 50-crore proposal of Mauritius based company Rama Mines for picking up 100 per cent equity in Mumbai-based Wasper Trading for mining exploration was also cleared.
Another proposal approved was that of French company Aldes Aeraulique''s Rs 25 crore for picking up 100 per cent equity in its Indian arm, it said.