Cabinet Approves FDI Proposal Of Rs 15,000 Crore By Anchorage Infrastructure Investment

The Cabinet Committee on Economic Affairs on Wednesday approved the FDI proposal of Anchorage Infrastructure Investment Holding Ltd, proposing an investment of Rs 15,000 crore

Cabinet Approves FDI Proposal Of Rs 15,000 Crore By Anchorage Infrastructure Investment

The investment is expected to be a major boost to infrastructure and construction sector

The Cabinet Committee on Economic Affairs on Wednesday approved the FDI proposal of Anchorage Infrastructure Investment Holding Ltd, proposing an investment of Rs 15,000 crore in the country. The investment is expected to be a major boost to the infrastructure and construction sector and also to the airport sector. Officials said it is also a significant boost to the recently announced National Monetisation Pipeline (NMP)

An official release said that investment also includes the transfer of the 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.

It said the investment will considerably substantiate the government's plan to develop the world-class airport and transport-related infrastructure through private partnerships.

The release said Anchorage Infrastructure Investment Holding Ltd. is proposing to make downstream investments in capital and employment-intensive sector. The investment will also generate indirect employment during construction and ancillary activities, it added.