The Cabinet Committee of Economic Affairs on Wednesday approved a foreign direct investment (FDI) proposal for an investment of up to Rs.15,000 crore in Anchorage Infrastructure Investment Holding Ltd.
The investment will also include the transfer of a share of Bangalore International airport Limited to Anchorage, according to an official statement.
The new investment is expected to be a major boost to the infrastructure and construction sector and also to the airport sector. It will also provide a 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 Infrastructure Investment Holding is an investment holding, incorporated specifically for the purpose of investment in 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.
Anchorage Investment has also proposed to make downstream investments in some of the sectors covered under the NMP.
The new investment will also generate indirect employment during construction and ancillary activities, the statement read. An investment of Rs. 950 have also been made in Anchorage Infrastructure Investment Holding Ltd by Ontariao Inc., a wholly-owned subsidiary of OAC one of Canada’s largest defined benefit pension plans.