New Delhi: The government on Wednesday approved Rs 15,000 crore foreign direct investment (FDI) proposal Anchorage Infrastructure Investment Holding Limited, is a subsidiary of Canada-based Pension Fund for investment in the infrastructure sector. NS cabinet committee on economic affairs (CCEA), chaired by the Prime Minister Narendra Modiapproved the FDI proposal specifically aimed at investment in infrastructure and construction-development sectors. These can include transportation and logistics as well as downstream investments in the airport sector and aviation-related businesses and services.
The investment also includes transfer of shares of Bangalore International Airport Ltd to Anchorage and an investment of Rs 950 crore by 2726247 Ontario Inc in Anchorage Infrastructure Investment Holding Ltd, an official statement said. 2726247 Ontario Inc., a wholly owned subsidiary of OAC, is the administrator of OMERS, one of Canada’s largest defined benefit pension plans.
The investment will be a big boost for the infrastructure and construction sector and also for the airport sector. This will substantially substantiate the Government of India’s plan to develop world-class airport and transport related infrastructure through private partnerships. The investment will also give a significant boost to the recently announced National Monetization Pipeline (NMP), the statement further said. It will help in leasing out state-owned infrastructure assets, including those handling assets such as roads, railways, airports, sports stadiums, power transmission lines and gas pipelines, to private operators.
Anchorage Infrastructure Investment Holding Limited is proposing to make downstream investments in certain sectors covered under NMP. The investment will also lead to direct employment generation, as the sector in which Anchorage Infrastructure Investment Holding Ltd. is proposing to make downstream investments is a capital and employment-intensive sector, the statement said.
It said the investment would also generate indirect employment in construction and allied activities.
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