GMR is announced as the winning bidder for development and operation of Kualanamu International Airport in Medan, Indonesia.
Key points to note –
- Contract has been won by GMR Airports Limited (GAL), a subsidiary of GMR Infrastructure Limited.
- GMR will enter into 49:51 partnership with Angkasa Pura 2 (AP2) for this project. AP2 is a state-owned enterprise handling 15 airports including Jakarta.
- The consortium will transform Kualanamu International Airport into Western International hub of Indonesia. Medan is the 4th largest urban area in the country and is capital of North Sumatra province. Kualanamu International Airport had handled more than 10 million passengers in 2018 and is an Airport with healthy cash flows.
- The project scope includes operation, development and expansion of the airport over a period of 25 years.
Airports business seems to be turning out well for GMR.
GMR is the largest private airport operator in Asia and fourth largest globally, handling passengers in excess of 172 million annually (pre-Covid). It operates the Delhi Airport, Hyderabad Airport and also an airport in Cebu, Philippines. Besides, it is currently developing three major greenfield airport projects – Goa, Vishakhapatnam and Greece.