The government today approved 17 foreign direct investment (FDI) proposals envisaging investments worth Rs 588.54 crore including that of CDC-PTL Holdings' proposal to infuse money to acquire shares worth Rs 452 crore of Punjab Tractors Ltd.
The proposal by CDC-PTL Holdings for acquiring 23.5 per cent stake in Punjab Tractors was cleared by Finance Minister Jaswant Singh following recommendation of the Foreign Investment Promotion Board, an official release said.
CDC has already acquired the Punjab government