New Delhi, Dec 4: The government today cleared UK-based Barnford Excavators proposal to raise foreign equity from 60 per cent to 100 per cent for the manufacture of construction and material holding machinery with an of investment Rs 106 crore.
The proposal was cleared by Arun Shourie who holds additional charge of the commerce and industry ministry on the recommendation of the Foreign Investment Promotion Board.
The government has cleared 20 foreign direct investment (FDI) proposals envisaging a total investment of Rs 153 crore. The major investment proposals pertain to sectors including manufacture of automobile components, manufacture of textile machinery and spinning ring frame, manufacture of construction and material holding machinery, tourism and software development.
Among other proposals cleared was that of Japanese-based Toyota Automatic Loom Works investment of Rs 31 crore to increase in foreign equity in the manufacture of textile machinery and spinning ring frames.