GMR wins bid to develop, operate Indonesia’s Kualanamu Int’l Airport

Expanding its footprint overseas, the aviation infrastructure major GMR Infrastructure Limited’s subsidiary, GMR Airports Limited (GAL) won the bid to develop and operate the Kualanamu International Airport (Medan Airport) in Medan, Indonesia.

The group will tie up with the state-owned enterprise, Angkasa Pura 2 (AP2) on a 49:51 basis.

The consortium will transform Kualanamu International Airport into the Western International hub of Indonesia.

As per a press statement issued by the company, Medan is the fourth-largest urban area in Indonesia and is the capital of North Sumatra province.

“The airport handled more than 10 million passengers in 2018. Kualanamu International Airport is an operating Airport with healthy cash flows,” it read.

The letter of award is expected to be issued in the next few days, while the post-bid formalities and the signing of project agreements are expected to be completed before the end of the year.

Commenting on the development, Srinivas Bommidala, Chairman Energy and International Airports, GMR Group, said, “GMR Airports Limited is delighted to have been announced the winning bidder for the development and operation of Kualanamu International Airport in Medan, Indonesia.”

“The project marks the entry of GMR Airports in the fast-growing Indonesian Aviation sector – the largest in ASEAN and a high potential market,” he added.

Bommidala further said that the bid win reinforces GMR Group’s credentials as one of the largest airport developers and operators across the world.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor