Agam SPV to invest $300 mn in airports

New Delhi: Cayman Island-based Agam SPV Six, which will be funded by a subsidiary of UK-based investment management company Atlas Group, has applied to the Foreign Investment Promotion Board to set up a wholly owned company and bring in foreign direct investment of $300 million (Rs 1,200 crore) to develop airports in the country.
In its application to the government, Agam SPV has said that it would like to focus on developing low-cost airports to meet service the fast-growing airline traffic in the country.
The proposed company, to be called Indian Infrastructure Investment SPV, will be funded by Agam Fund which is managed by Sigma Asset Management (Guernsey), a wholly owned subsidiary of Atlas Capital Associates. The Atlas group handles over $4 billion of assets across the globe and provides advisory and portfolio management services.
Sigma Asset Management has been managing investments in emerging markets for over a decade.
22/01/08 Surajeet Das Gupta & Anirban Chowdhury/Business Standard

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Categories: Airports Jan 2008, Foreign Jan 2008