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GMR wins airport project in Indonesia

GMR Airports has emerged as the winning bidder for the development and operation of Kualanamu International Airport in Medan, Indonesia. The letter of award is expected to be issued in the next few days, post completion of the bid formalities, while signing of the project agreements will be before end of the year, the company said on Thursday. The bid for the high growth potential brownfield airport was won in a closely-contested international competitive bid process, said GMR Airports, with which wholly owned subsidiary GMR Airports International B.V had bid as a consortium. It will be entering into a 49:51 partnership with Angkasa Pura 2 (AP2), a State-owned enterprise handling 15 airports, including Jakarta, for the project.

Medan is the fourth largest urban area in Indonesia and capital of North Sumatra province. The airport there handled more than 10 million passengers in 2018. The project scope includes operation, development and expansion of the airport over a period of 25 years. Kualanamu International Airport is an operating airport with healthy cash flows. The consortium will transform Kualanamu International Airport into western international hub of Indonesia, the company said in a release.

Chairman Energy and International Airports of GMR Group Srinivas Bommidala said the project marks the entry of GMR Airports in the fast growing Indonesian aviation sector, the largest in ASEAN and a high potential market.

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