The government on Thursday approved a slew of foreign direct investment proposals worth Rs 193 crore (Rs 1.93 billion) including one by global courier service major DHL Worldwide to enhance stake in its domestic arm.

Under the proposal, DHL Worldwide would hike foreign equity component in DHL Worldwide Express India from 51.85 per cent to 97.4 per cent involving an investment of Rs 105 crore (Rs 1.05 billion), an official release said.

Finance Minister Jaswant Singh gave his nod to 19 proposals, which were cleared by Foreign Investment Promotion Board pertaining to chemicals, mining, post and telecommunications sectors.

A proposal by Rio Tinto Minerals to raise foreign equity in ACC Rio Tinto to 90 per cent at an estimated cost of Rs 25 crore (Rs 250 million) was also given a go-ahead.

ACC Rio Tinto would undertake exploration of minerals including gold, silver, diamonds, copper, lead, zinc and bauxite.

Comoretel Holdings received a green signal for setting up a wholly-owned subsidiary to support efforts of Mahanagar Telephone Nigam Ltd, Bharat Sanchar Nigam Ltd, Videsh Sanchar Nigam Ltd and other service providers in providing international toll free services from India involving an investment of Rs 25 crore or Rs 250 million.

A proposal by French oil giant Total SA to acquire 76.1 per cent equity in Helles Investment and Cray Valley Resins by the wholly-owned subsidiary was also approved.