The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, has accepted an FDI request in Anchorage Infrastructure Investment Holding Ltd for up to Rs 15,000 crore.
Anchorage is an India-based investment holding company focused on infrastructure and construction development projects, such as transportation and logistics, as well as downstream investments in the airport and aviation-related businesses and services.
The transaction also comprises the transfer of Bangalore International Airport Limited’s shares to Anchorage and a Rs 950 crore investment in Anchorage by Ontariao Inc., a wholly-owned subsidiary of OAC and OMERS administrator, one of Canada’s largest defined benefit pension plans.
According to the finance ministry, the investment will provide a significant boost to the infrastructure and building sectors, as well as the aviation industry. According to the statement, it will bolster the government’s ambition to construct world-class airport and transportation-related infrastructure through private partnerships.
Anchorage is proposing downstream investment in some of the NMP’s covered industries, according to the ministry. Because the areas in which Anchorage proposes to make downstream investments are capital and employment demanding, the investment will also result in direct job creation. During construction and auxiliary activities, it will also provide indirect jobs.
