BOMBAY, May 30 (Reuters) - India's TVS Motor Co. told the Bombay exchange on Monday its board had approved 1.2 billion rupees ($28 million) to set up two subsidiaries for investing in its manufacturing unit in Indonesia. The company will invest 300 million rupees in TVS Motor (Singapore) Pte. Ltd. and 900 million rupees in a subsidiary in the Netherlands. ($1=43.5 Indian rupees)
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