|
|
Article: DoR clears Michelin's Rs 11,000-cr investment proposal.
- Article from:
- PTI - The Press Trust of India Ltd.
- Article date:
- June 29, 2009
CopyrightCOPYRIGHT 2009 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
DoR clears Michelins Rs 11,000-cr investment proposal
New Delhi, June 29 (PTI) Indias Department of Revenue (DOR) is understood to have given its clearance to an investment proposal worth Rs 11,000 crore by French tyre giant Michelin to set up a manufacturing facility in Tamil Nadu.
However, it could not be confirmed whether the Foreign Investment Promotion Board (FIPB) has given its final approval to the proposal.
According to informed sources, DoR has given a no objection to the proposal under which Compagnie Financiere Michelin (CFM) plans to set up a wholly-owned subsidiary to make radial tyres, tubes and ancillary tyre related products at ...