American firm Landomus Realty, in an advertisement in a newspaper on Monday, has written to Prime Minister Nareddra Modi offering to ‘invest’ USD 500 billion in India’s infrastructure
“Landomus Realty Ventures Inc., USA, would like to invest USD 500 Billion in Equity as the First Phase of the USD 2
Trillion investment under Build India into the National Infrastructure Pipeline (NIP) and Non-NIP projects listed by the Government of India under the India Investment Grid for ‘Invest India’ initiative,” Landomus Group Chairman Pradeep Kumar Satyaprakash said in the advertisement.
The firm has just 19 employees and a one-page website.
Little is known about the company. As per Zoominfo, the company has 19 employees and a revenue of USD 5 million. A Whois lookup, however, revealed that the company website was registered in 2015 by United Land Bank, headquartered at Sivan Chetty Gardens in Karnataka.
The website gave the address of Landomus Realty Ventures Inc as Secaucus, New Jersey, USA. Zoominfo, which provides a database of companies, said “Landomus Realty Ventures Inc was formed for the purpose of acquiring land parcels and creating land banks in India”.
Union Finance Minister Nirmala Sitharaman announced the NIP in December 2019. Under the NIP, the government has projected total infrastructure investment worth Rs 111 lakh crore during FY20-25.
During Union Budget 2021, the number of projects under the NIP was expanded to 7,400 projects from 6,835 projects
Landomus aims to support completion of NIP and non-NIP projects along with investors and developers. The company expressed its intent to support projects in sectors such as energy, social infrastructure, manufacturing, transport, food processing and agriculture, water and sanitation, etc.
Landomus also made the announcement on its website.
The company’s directors include Mamatha HN, Yashas Pradeep Kumar, Rakshith Gangadhar, Gunashree Pradeep Kumar, according to its website. Pamela Keough, Praveen Oscar Shiri, Praveen Muralidhar, A.V.V Bhaskar, Naveen Sajjan are listed as Landomus’ advisors.
Expressing commitment to augment the country’s infrastructure, Finance Minister Nirmala Sitharaman has in the latest budget proposed to significantly enhance capital expenditure to Rs 5.54 lakh crore in the next fiscal, besides creating institutional structures and giving a big thrust to monetizing assets to achieve the goals of the National Infrastructure Pipeline.
Sitharaman said NIP, that was launched in December 2019 with 6,835 projects, has now been expanded to 7,400 projects and around 217 projects worth Rs 1.10 lakh crore under some key infrastructure ministries have been completed.