CCFI clears Pepsi proposal

Pepsico will be permitted to increase its equity holding to 405 million over the next three years subject to various specified stipulations. The CCFI approved the proposal of the Ispat Industries Ltd for setting up a new company for development of LNG terminal in Andhra Pradesh at an estimated cost of 584 million.

The Ispat group proposes to set up an integerated industrial complex near Kakinada in AP. During the first phase of development of the complex, the group will develop a LNG terminal of 2.5 MTPA capacity with suitable port development.

For implementation of the project, a new company under the namely Ispat Energy Ltd will be incorporated with 100 per cent foreign investment. The CCFI has approved the request of the Tata Communications which sought amendments to the foreign collaboration approval letter with Bell Canada. The changes approved are of technical nature.