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.
( With inputs from ANI )
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