The Cabinet Committee of Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, has approved the foreign direct investment (FDI) proposal for an investment of upto RS15,000 crore in M/s Anchorage Infrastructure Investment Holding Ltd, 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.
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.
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.