12 March 2008 17:26 [Source: ICIS news]
NEW DELHI (ICIS news)--India will allow 100% foreign direct investment (FDI) in industrial parks including chemical estates, refining and petro-marketing and commodity exchanges, it said on Wednesday. ?xml:namespace>
The liberalised policy for industrial parks would be subject to the condition that it would comprise 10 units/plants and no single unit should occupy more than 50% of the allocable area, the government said.
The notification would also allow foreign companies to increase their stake in the country’s public sector refineries from a maximum 26% to 49%, with approval, it added.
The government would also allow foreign companies to hold a maximum 26% equity stake in commodity exchanges, including the ones that serve as platforms for the trading of polymers and petrochemicals feedstock, it said.
Each investment would, however, require specific approval, it added, with a stipulation that no single foreign entity would hold more than a 5% stake.
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