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CCEA Approves FDI Proposal For An Investment of Rs 15,000 Cr In India

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The Cabinet Committee of Economic Affairs (CCEA), appointed by Prime Minister Shri Narendra Modi, has endorsed the FDI proposal for an investment of upto Rs 15,000 crore in M/s Anchorage Infrastructure Investment Holding Ltd, an India 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, according to the media report of Press Information Bureau (PIB).

 
CCEA Approves FDI Proposal For An Investment of Rs 15,000 Cr In India

"The investment also includes transfer of share of Bangalore International airport Limited to Anchorage, and investment of Rs. 950 crorein M/s 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." added PIB.

According to the statement of PIB issued on 25th August 2021 "The investment will be a major boost to the infrastructure and construction sector and also to the Airport sector. The investment will considerably substantiate the government of India's plan to develop world class Airport and transport related infrastructure through 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. M/s Anchorage Infrastructure Investment Holding Ltd. is proposing to make downstream investment in some of the sector covered under the NMP."

"The investment will also lead to direct employment generation as the sector in which M/s 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" PIB further mentioned.

Source: pib.gov.in/

Read more about: government
Story first published: Thursday, August 26, 2021, 11:17 [IST]
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