Selan, Enron and Powergen among new approvals

Vol 4, PW 10 (21 Jun 00) News in Brief

Tiny Indian oil explorer Selan Exploration has received government permission to increase its Non Resident Indian (NRI) equity component from 14.46% to 18.75%.

The decision was one of 29 Foreign Direct Investment (FDI) approvals cleared by industry minister Murasoli Maran on 13th June. Enron India received approval for an, "extension of activity", in the area of, "LNGinfrastructure associated with power plants and industrial consumers," while Powergen of the UK received approval to commit Rs300cr ($70m) to, "undertake activities related to operation and maintenance of plants in the energy and related sector." Enron's approval contained no fresh FDI.