Tesco, which has sought the government's permission to buy 50 per cent stake in Tatas-owned Trent Hypermarket Ltd, will have to invest atleast $55 million in creation of fresh back-end infrastructure.
The first such proposal in the sector has come from the joint venture between Tata-Trent and Tesco Plc, which will open outlets simultaneously in these two states.
Tesco proposal entailing investment of $110 million has been cleared, sources said after the FIPB meeting held in New Delhi.
The company is not holding plans for clarity on policy.
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