GMR emerges as winning bidder for Indonesian airport
Hyderabad: GMR Airports Limited (GAL), a subsidiary of GMR Infrastructure Limited, has emerged as the winning bidder for the development and operation of Kualanamu International Airport in Medan, Indonesia (Medan Airport). The letter of award is expected to be issued in the next few days, post bid formalities, while signing of project agreements before end […]
Hyderabad: GMR Airports Limited (GAL), a subsidiary of GMR Infrastructure Limited, has emerged as the winning bidder for the development and operation of Kualanamu International Airport in Medan, Indonesia (Medan Airport).
The letter of award is expected to be issued in the next few days, post bid formalities, while signing of project agreements before end of the year.
The company said, in a communication addressed to GMR Airports Consortium Team, Angkasa Pura 2 (AP2), the state-owned enterprise and the bidding authority for the airport has informed that they have completed the final evaluation process for selection of strategic partnership for the Medan Airport and have announced GMR Airports as the winning bidder.
The GMR Airports Limited and its wholly owned subsidiary GMR Airports International BV had bid for the project as a consortium.
Medan is the fourth largest urban area in the country and is capital of North Sumatra province. GMR will foray into 49:51 partnership with AP2 for this project. The consortium will transform Kualanamu International Airport into western international hub of Indonesia.
The airport 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.
Commenting on the development, Srinivas Bommidala, chairman, Energy & International Airports, GMR Group, said, the project marks the entry of GMR Airports in the fast growing Indonesian aviation sector.
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