BY OUR LAND BUREAU | NEW DELHI: The Government is now just a step away from allowing Japan Bank for International Cooperation (JBIC) to take a 26 per cent equity stake in the Delhi Mumbai Industrial Corridor project.
Official sources told Business Line that the final Cabinet note will be taken up shortly for the participation of the Government of Japan through JBIC in the equity structure of the DMIC Development Corporation (DMICDC) to the extent of 26 per cent.
This follows the nod given by the Finance Ministry last week in support of the draft Cabinet note that was floated in December 2011, they said.
There were several inter-ministerial consultations on the draft note.
In the DMICDC, India will have a 49 per cent equity stake, while JBIC will hold 26 per cent.
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