Investment will boost infrastructure, construction, and airport sectors
New Delhi: The Cabinet Committee of Economic Affairs today approved the FDI proposal for an investment of upto ₹15,000 crore in Anchorage Infrastructure Investment Holding Ltd, an India investment holding incorporated specifically for the purpose of investment in infrastructure and the construction-development sectors along with the airport sector.
The investment also includes transfer of share of Bangalore International airport Limited to Anchorage, and investment of Rs. 950 crore in Anchorage Infrastructure Investment Holding Ltd by 2726247 Ontariao Inc., a wholly-owned subsidiary of OAC which is the administrator of OMERS’, one of Canada’s largest defined benefit pension plans.
Anchorage Infrastructure Investments Holdings Limited is a Public Limited Company incorporated on June 24, 2019. It is classified as Subsidiary of Foreign Company and is registered at Registrar of Companies, Mumbai.
According to the Cabinet note, the investment will be a major boost to the infrastructure and construction sector and also to the Airport sector. The investment will considerably substantiate government’s plan to develop world class Airport and transport related infrastructure though private partnership. The investment will also be a significant boost to the recently announced National Monetisation Pipeline (NMP), as it will help fund leasing out of state-owned infrastructure assets which involves handling assets like roads, railways, airports, sports stadiums, power transmission lines and gas pipelines to private operators. Anchorage Infrastructure Investment Holding Ltd. is proposing to make downstream investment in some of the sector covered under the NMP, the Cabinet noted.
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 are capital and employment intensive sector. The investment will also generate indirect employment during construction and ancillary activities, the government said.
– global bihari bureau
