New Delhi, Dec 24 : GMR Airports Netherlands, a step-down subsidiary of GMR Airports, has entered into shareholders’ agreement and share subscription agreement for operating the Kualanamu International Airport in Indonesia’s Medan.
The company entered into these agreements on Thursday with Angkasa Pura II (AP II), the state-owned enterprise and the bidding authority for the airport.
On the same day, the company received the letter of award for the project, GMR Group said in a statement on Friday.
With the signing of the agreement, GMR entered into a 49:51 per cent partnership with AP II.
GMR said it will transform the airport into a western international hub of Indonesia.
“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,” it added.Medan is the fourth largest urban area in Indonesia and is the capital of North Sumatra province, with a population of over 3.4 million.”Our partnership with Angkasa Pura II (AP II) is testimony to the trust placed in us by the Indonesian government and authorities.We will strive to bring our best to this beautiful and strategic country of ASEAN,” GMR Group’s Chairman, Energy and International Airports, Srinivas Bommidala, said.ad-
GMR Aviation arm goes into Indonesia to manage Kualanamu Int’l Airport
The project scope covers operation, development and expansion over 25 years.Kualanamu International Airport has healthy cash flows and is currently operational.”Medan, the fourth-largest urban area of Indonesia, is also the capital of North Sumatra Province.It has a population exceeding 3.4 millions.
The trust that the Indonesian authorities and government have placed in us is evident by our partnership with Angkasa Pura II.Srinivas Bommidala (GMR Group Chairman Energy and International Airports), stated that we will do our best for this country, which is beautiful and strategically important in ASEAN.
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