Based on the recommendations of the Foreign Investment Promotion Board (FIPB), the finance ministry on Wednesday cleared 32 foreign direct investment (FDI) proposals worth a total of Rs 845.7 crore.

The proposal from Oriental Structural Engineers to invest Rs 450 crore was the highest among the 32 proposals. Among others proposals included Reid and Taylor’s offer to allot and issue shares worth Rs 108 crore and Dr Oetker India’s proposal to convert the operating company into an operating-cum-holding company, which will bring in about Rs 110 crore worth of FDI.

The Finance Ministry granted permission to Television Eighteen India to launch three regional business news channels — CNBC TV18 South, CNBC TV18 Gujarati and CNBC TV18 Channel 3 — without involving any fresh FDI inflow.

However, the Ministry rejected four of the original applications, which included applications by Lokmat Newspapers Private Limited, Dow Jones and Company, Prithviraj Prakashan Private Limited and GSR Sugars Private Limited.

Apart from these four, the FM also rejected three other proposals of Nagarjuna Construction Co Ltd, American company Innuit US Holdings Inc and Singapore-based Delight Investments Pte Limited.

Due to the ongoing global economic crises, the government has so far allowed FDI inflow of more than 130 per cent this year.