FDI plans cleared

New Delhi, March 14: The government today cleared 18 foreign direct investment proposals worth Rs 1,553.26 crore, including one of Rs 560 crore by Essar Capital. The finance ministry approved the proposals at a meeting held on March 7. The government also approved Calcutta-based Bharat Connect to invest Rs 250 crore to change its status of operating company into operating-cum-holding company to make downstream investments in non-banking financial companies. Redington India will bring in Rs 195 crore by way of foreign equity.

Jindal move

Hissar, March 14: Jindal Stainless plans to set up an SEZ on 300 acres near its plant in Jajpur, Orissa, for the metallurgy engineering industry and downstream activities, Jindal Stainless vice-chairman and managing director Ratan Jindal said.

3G services

New Delhi, March 14: Telecom minister A. Raja today said next generation mobile services would be started before the tenure of the UPA government came to an end. “Spectrum for 3G mobile services will be rolled out soon ... I am sure the services will start during the UPA regime,” the minister said.

PN clause

New Delhi, March 14: The government today ruled out more disclosure clauses for investment through participatory notes (PNs) to identify the investor. PNs are instruments through which unregistered entities invest in India through FIIs and their agents.

Power plants

New Delhi, March 14: The government today said three ultra-mega power projects of 4,000 MW could be set up in Orissa, in addition to nine projects already proposed in the country.

Fertiliser panel

New Delhi, March 14: A group of ministers on fertiliser has decided to set up a committee under Planning Commission member Abhijit Sen to look into different options for formulating a new investment policy for the sector. The group, headed by agriculture minister Sharad Pawar approved setting up of the committee to examine various international benchmarks.