Govt clears 22 FDIs worth Rs 46 crore

Mauritius-based Covanta Energy India's Rs 20 crore (Rs 299 million) proposal for issuance of fresh shares in Great Eastern Energy Corporation was among the 22 foreign direct investment proposals worth Rs 46 crore (Rs 460 million)

approved by the government on Tuesday.

The proposals were cleared by Commerce and Industry Minister Arun Shourie on the basis of recommendations made by the Foreign Investment Promotion Board, an official release said in New Delhi.