Bhubaneswar (SunstarTV Bureau): The central government has made major decision on foreign direct investment (FDI) in the infrastructure sector to invest up to Rs 15,000 crore in Anchorage Infrastructure Investment Holding (AIIH) Ltd.
A meeting of the Union Cabinet (Finance Affairs Committee) chaired by Prime Minister Narendra Modi approved the FDI proposal of AIIH Ltd.
The money will be used to transport services related to airports and civil aviation. Through this, the share of Bangalore International Airport Limited will be transferred to Anchorage Infrastructure Investment Holding Ltd. In addition of Ontario Inc, has an investment of Rs 950 crore in AIIH Ltd by Ontario Inc. Notably, Ontario Inc known as one of Canada’s largest guaranteed pension scheme.
The investment is expected to be made especially for infrastructure development. Reportedly, the government’s recently announced National Monetization Pipeline is expected to increase employment opportunities. Anchorage Infrastructure Investment Holdings Ltd has also proposed to invest in some assets through the National Monetization Pipeline.