FDI worth Rs 580 cr cleared

NEW DELHI: The commerce and industry minister has cleared 37 FDI proposals worth Rs 580 crore.

The approved proposal include permission to Caltex Oil Corporation for increasing its foreign equity stake from 5% to 100% involving an investment of Rs 219 crore.

The company is engaged in import, storage, distribution and sale of LPG. The minister also granted permission to H J Heinz Company, Bongrain International, Matsushita and Samsonite Corporation for amendments in existing foreign collaboration approvals.