New Delhi: The Foreign Investment Promotion Board (FIPB) is likely to consider the proposal of Tatas and Singapore Airlines for a new joint venture on October 18 entailing a foreign investment of USD 49 million.
"The application has been received and would be considered at the next meeting of FIPB on October 18," an official told PTI.
The FIPB, headed by Economic Affairs Secretary Arvind Mayaram, is an inter-ministerial panel for approving Foreign Direct Investment (FDI) across sectors.
In their new venture, Tata SIA Airlines Ltd, Tata Sons would hold 51 per cent stake and Singapore Airlines (SIA) 49 per cent.
The proposed venture would also require approvals from agencies like the DGCA and tax department besides other ministries and government departments.
27/09/13 PTI/Economic Times
To Read the News in full at Source, Click the Headline
"The application has been received and would be considered at the next meeting of FIPB on October 18," an official told PTI.
The FIPB, headed by Economic Affairs Secretary Arvind Mayaram, is an inter-ministerial panel for approving Foreign Direct Investment (FDI) across sectors.
In their new venture, Tata SIA Airlines Ltd, Tata Sons would hold 51 per cent stake and Singapore Airlines (SIA) 49 per cent.
The proposed venture would also require approvals from agencies like the DGCA and tax department besides other ministries and government departments.
27/09/13 PTI/Economic Times
