26 August , 2021 Fdiindia
Cabinet Clears INR 15,000-Crore FDI Plan of Anchorage Infrastructure Investment
The government authorized an FDI of Rs 15,000 crore in Anchorage Infrastructure Investment Holding Ltd, a subsidiary of Fairfax Financial Holdings Ltd of Canada, which indirectly owns a share in Bangalore International Airport.
Anchorage is interested in the country's infrastructure, construction, airport, and transportation assets, as well as assets that the government intends to monetize.
After the Cabinet Committee on Economic Affairs approved the FDI request, the firm was established to invest in India assets, including the airport sector and aviation-related companies and services, according to an official release. Anchorage is anticipated to be allowed to participate in the government's asset monetisation programme as a result of the permission.
Anchorage would get a 950 crore investment from 2726247 Ontariao Inc., a wholly-owned subsidiary of OAC that manages Canada's pension fund OMERS, as part of the FDI influx. Fairfax will also transfer its shares in Bangalore International Airport Ltd. to Anchorage.
According to the statement, the investment would provide a significant boost to the infrastructure and building sectors, as well as the airport industry.
“The investment would help to solidify the Indian government's ambition to build world-class airports and transportation infrastructure via private partnerships. The investment will also assist finance the newly announced national (asset) monetisation pipeline, as it will help pay the leasing out of state-owned infrastructure assets, including as roads, trains, airports, sports stadiums, electricity transmission lines, and gas pipelines, according to the announcement.