New Delhi, Feb. 22: The government today approved 35 foreign direct investment proposals worth over Rs 183 crore, including Scottish & Newcastle’s plan to raise its holding in its Indian arm from 40 to 50 per cent at an investment of Rs 83.33 crore.

The proposal envisages providing technical consultancy for manufacturing, marketing and distribution of beer and allied products through a strategic partnership with the United Brewries Group.

Following the recommendation of the Foreign Investment Promotion Board (FIPB), finance minister P. Chidambaram today approved the proposals, most of which pertain to whole trading, food processing, information and broadcasting, power, telecom and financial sectors.

Mauritius-based Jardine Flemming obtained a green signal from the government to pump in Rs 22 crore in JP Morgan Pvt Ltd to set up an asset management company.

Alaghnim Industries of Mauritius will enter the Indian engineering sector by buying out almost the entire equity of Kirby Building Systems India for Rs 20 crore.

UK-based Laing ’Rourke Plc will set up a joint venture in the construction sector with an initial investment of Rs 17.5 crore.

The FIPB also gave its nod to Mauritius-based Merrill Lynch, which will invest about Rs 10 crore to buy out shares of residents in its Indian arm DSP Merrill Lynch.

Flint Ink (Mauritius) Ltd will increase its holding in Indian JV Incowax Pvt Ltd from 55 to 100 per cent for an investment of Rs 10.8 crore. Chennai-based Sun TV will offer preferential shares worth up to Rs 7.5 crore to a clutch of FIIs and NRIs.

Finland-based Wartsila Corporation will invest about Rs 6 crore to diversify its operations in India.