By BW CFO World Online Bureau
The CCEA (Cabinet Committee on Economic Affairs) approved Rs 15,000 CRORE FDI deal of Anchorage Infrastructure Investment Holding Ltd because of the advantages it would bring to the airlines sector and the subsequent downstream investments.
The Government cleared a Rs 15,000-crore FDI proposal chaired by Prime Minister Narendra Modi, upvoted the FDI proposal for the purpose of investment in infrastructure and the construction-development sectors. These may include transport and logistics along with downstream investment in the airline sector.
The deal also includes the transfer of shares of Bangalore International Airport Limited to Anchorage, and investment of Rs 950 crore in Anchorage Infrastructure Investment Holding Ltd by Ontariao Inc, an official statement said.
Ontariao Inc is a wholly-owned subsidiary of Ontario Aerospace Company (OAC).
The investment will boost up the infrastructure and construction sector and also bring growth to the airline sector. It will considerably aid the Government of India’s plan to bring up world-class airports and transport-related infrastructure through private partnerships.
The report further commanded that the investment will also be a significant boost to the recently announced National Monetisation Pipeline (NMP). It will help the allocation of funds out of the pool of state-owned infrastructure assets which involves handling assets like roads, railways, airports, sports stadiums, power transmission lines and gas pipelines to private operators.
Anchorage Infrastructure Investment Holding Ltd is proposing to make downstream investments in some of the sectors covered under the National Monetisation Pipeline.
The report also concluded that this will also generate employment, as the sector in which Anchorage Infrastructure Investment Holding Ltd is proposing to make downstream investments are capital- and employment-intensive sectors. The investment will also generate indirect employment in construction and ancillary activities.