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Indian Economy

The Cabinet Committee on Economic Affairs (CCEA) on Wednesday cleared a foreign direct investment (FDI) proposal entailing an investment of up to Rs. 15,000 crore in Anchorage Infrastructure Investment Holding (AIIH) Ltd., a company incorporated to invest in the infrastructure and construction development sectors.

The government said the investment would prove to be a “significant boost to the recently announced National Monetisation Pipeline (NMP)” as AIIH had proposed downstream investments in some of the sectors covered under the NMP. This would include investments in leasing out of state-owned infrastructure assets including roads, railways, airports, sports stadiums, power transmission lines and gas pipelines to private operators.

The foreign direct investment proposal also entails the transfer of shares of Bangalore International Airport Limited (BIAL) to Anchorage, and an investment of Rs. 950 crore in AIIH by 2726247 Ontario Inc., a wholly owned subsidiary of the administrator of OMERS, one of Canada’s largest pension funds.

Investment will give a major boost to the recently announced NMP

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