NEW DELHI: Chinese conglomerate Dalian Wanda Group’s India real estate plan is deadlocked over the issue of equity sharing with the Haryana government.The firm plans to invest $10 billion in construction of five industrial and theme parks besides shopping malls. It does not want to give more than 9% share to the state government and has even threatened to pull out of the project over the issue, according to people familiar with the matter. The state government wants 26% share.“The matter of equity sharing is a major bottleneck... As per our company law, 26% share will give us controlling rights and an opportunity to be on the board of directors,” a senior Haryana government official, who did not wish to be named, said. An email query sent to Dalian Wanda Group remained unanswered till of press time on Thursday.The Centre is now trying to enable the two parties reach a middle ground.“The company wants Haryana government to provide the land for the project but it is not ready to give a larger share in the equity,” a senior official told ET, requesting anonymity.The ministry of external affairs and the department of industrial policy and promotion (DIPP) are in talks with the Wanda group and the state government to try and work out a solution that is acceptable to both parties. The Chinese group’s proposed investment is several times the total foreign direct investment flow from China to India —between 2014 and 2016, the total inflow from China stood at $956 million.Earlier, the company had presented a long wish-list of tax concessions and relaxation in certain policy norms. However, according to sources, all its previous demands have been sidetracked and the equity share is now the main contention.The company has also sought concessions that are applicable to special economic zones, such as breaks on corporate and service tax, besides customs and import duties. It also wants these concessions extended to companies that set up units in its project.Wanda group, owned by China’s richest man, Wang Jianlin , is the world’s largest property developer with interests in culture and tourism, ecommerce and department stores. The group recently announced it would start work on a 13 sq km park in Sonepat. Various companies from across the world will build and operate homes, hotels and factories within the park, according to the Haryana government.The Chinese embassy, too, has been engaging with the Indian government to facilitate the proposed mega industrial township.