Sidc Stake Floor Removed

by the State Industrial Development Corporations (SIDCs) and other state government industrial promotional agencies in the joint venture projects promoted by them.

This minimum equity limit was set at 26 per cent of the project. The latest decision is in continuation of the steps taken by the government to provide greater flexibility to investors in important areas.

Companies wanting to avail of this waiver can now apply to the Secretariat of Industrial Approvals, ministry of industry. This waiver will also be available to existing projects where letters of intent and industrial licences have already been issued, an official press release said here yesterday.