Canada pension fund ready to invest $2 billion in Mumbai housing - official

 

Maharashtra's chief minister Devendra Fadnavis speaks to his staff at his official residence in Mumbai, India, July 9, 2015.

Sat Oct 31, 2015 

Canada's pension fund is ready to invest $2 billion in affordable housing in Mumbai, a top Indian official said, in a move that would boost Prime Minister Narendra Modi's goal of providing cheap housing to millions of people.

"A week back, the Canadian ambassador... informed me that the Canadian pension fund is ready to invest $2 billion in Mumbai for affordable housing," Devendra Fadnavis, chief minister of Maharashtra, told reporters.

The Canada Pension Plan Investment Board opened an office in Mumbai this month and has already committed to invest more than $2 billion in India.

(Reporting by Suvashree Dey Chodhury; Writing by Krishna N. Das; Editing by Miral Fahmy)