New Delhi, Jan 24: The cabinet committee on economic affairs (CCEA) on Wednesday cleared the proposal for the resolution of outstanding issues in the Oman-India Fertiliser Project, setting up of a zinc smelter plant by Hindustan Zinc Ltd, capacity expansion of Nalco's captive power plant, and a proposal of Digital Future Investments of the Netherlands to set up a wholly-owned subsidiary.The CCEA approved a number of revised cost estimates as well, like the cost revision proposal for a mechanised coal handling facility at Paradip port from Rs 587.41 crore to Rs 831.11 crore, second revised cost estimate from Rs 199.5 crore to Rs 241.74 crore for four-laning the Punjab border-Sirhind stretch on the NH-1, expanding the National Institute of Biologicals from Rs 69.74 crore to Rs 261.24 crore, and for augmenting the transmission system in south Assam, Mizoram and Tripura.
The CCEA also cleared a proposal on the availability of di-ammonium phosphate and rates of concession on phosphatic and potassium fertilisers for 2000-01, setting up of a unified load despatch and communication scheme for the western region at an estimated cost of Rs 262.18 crore, system strengthening in the southern region's transmission system at a cost of Rs 396.28 crore, renewal of the long-term agreement for export of iron ore by MMTC, setting up of a traditional knowledge digital library for Ayurveda at a cost of Rs 1.18 crore, and formation of a joint venture between the National Building Construction Company and Jamal Trading Company in Botswana.
CCEA said Digital Future Investments will invest $500 million (Rs 2,250 crore) over a period of five years, however adding, theinitial investment will be $60 million (Rs 270 crore) for the first six months. The Indian subsidiary will construct, install, operate and maintain engineering facilities and third-party technical services to duly licensed broadcasters, telecom operators and public authorities, it said. It will also use India for providing technical services to global markets in the broadcasting and telecom sectors, adding, it will neither produce nor own content.
The Indian subsidiary of Digital Future will undertake R&D in the field of technical services in the broadcasting and telecom sectors, the CCEA said.
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