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The Cabinet Committee on Economic Affairs (CCEA) has approved the FDI proposal for investment of up to ₹15,000 crore in Anchorage Infrastructure Investment Holding Ltd, an India investment holding incorporated specifically for investing in infrastructure and construction development.
The investment includes transfer of share of Bangalore International Airport to Anchorage, and investment of ₹950 crore in Anchorage Infrastructure Investment Holding by 2726247 Ontariao Inc, a wholly-owned subsidiary of OAC.
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OAC is the administrator of OMERS, one of Canada’s largest defined benefit pension plans, said a statement.
“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,” according to an official release.
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Monetising infra assets
The government’s ambitious NMP scheme, launched on August 23, seeks to monetise infrastructure assets worth ₹ 6 lakh crore over the next four years. Assets from sectors such as railways, roads, aviation, telecom and power transmission are to be monetised and the funds invested in new infrastructure projects.
The FDI flow into Anchorage Infra is expected to give a fillip to the infrastructure and construction sectors and also the airport sector. “The investment will considerably substantiate Government’s plan to develop world class airport and transport-related infrastructure through private partnership,” the statement added.
The investment is likely to lead to direct employment generation as the sectors in which Anchorage Infrastructure Investment Holding Ltd has proposed to make downstream investments are capital and employment intensive, the release said. It is also expected to generate indirect employment during construction and ancillary activities.
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