Press Release
RSS/Syndication
SearchGovernment approves Rakindo's investment plans
The cabinet committee on economic affairs (CCEA) Friday approved a proposal of real estate major Rakindo Developers to set up a subsidiary with foreign direct investment (FDI) up to $250 million.
- Tata Sky Celebrates 2 Million Subscribers in India on its NDS Platform
- IIT Alumni to meet at 2008 Golden Jubilee Conference in New York City
- Literacy vs CSR Vidya Vihar Pilani Rajasthan Focus - The other side of Grim Realities
- ASUS-Lamborghini VX3 Notebook Series Unveiled
- The Head Hunters India Welcomes Dr Scalem as Senior Vice President - Mumbai
The cabinet committee on economic affairs (CCEA) Friday approved a proposal of real estate major Rakindo Developers to set up a subsidiary with foreign direct investment (FDI) up to $250 million.
With the CCEA approval, the United Arab Emirates (UAE)-based Rakeen Development, the holding company of Rakindo, and its another subsidiary Rakeen Private Ltd would invest in the Indian company to undertake downstream operations in the country.
Rakindo has plans to build a $1.5 billion integrated township at Coimbatore. The project was actually awaiting the government clearance of the FDI proposal, company officials said.
Copyright © India PRwire/Indo Asian News Service. Reproduction of news articles or any other content in whole or in part in any form or medium without express written permission of India PRwire is prohibited.