CCEA approves FDI proposal of Rs 15,000 crore by Anchorage Infrastructure Investment Holding Ltd.
New Delhi, August 26, 2021
The Cabinet Committee on Economic Affairs (CCEA) on Wednesday approved an FDI proposal for an investment of up to Rs 15,000 crore by Anchorage Infrastructure Investment Holding Ltd in India.
This is an India investment holding incorporated specifically for infrastructure and the construction-development sectors which may include transport and logistics etc. along with downstream investment in the airport sector and aviation-related businesses and services.
An official press release said the investment also includes the transfer of the share of Bangalore International Airport Limited to Anchorage and an investment of Rs 950 crore in the latter by 2726247 Ontario Inc., a wholly-owned subsidiary of OAC, the administrator of OMERS', one of Canada's largest defined benefit pension plans.
The investment will be a major boost to the infrastructure and construction sector, besides the airport sector. The investment will considerably substantiate the Union Government’s plan to develop world-class wirport and transport-related infrastructure through private partnership, the release said.
According to the release, 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 involve handling assets like roads, railways, airports, sports stadiums, power transmission lines and gas pipelines to private operators.
Anchorage proposes to make downstream investments in some of the sectors covered under the NMP, it said.
The investment will also lead to direct employment generation as the sector in which the holding proposes to make downstream investments are capital and employment-intensive sectors. The investment will also generate indirect employment during construction and ancillary activities, the release said.