GMR Airports of the Netherlands signs agreement with Angkasa Pura II

GMR Airports of the Netherlands signs agreement with Angkasa Pura II

GMR Airports Netherlands BV, a subsidiary of GMR Airports Limited (GAL), has signed a Shareholder Agreement (SHA) and Share Subscription Agreement (SSA) with Angkasa Pura II (APII) for the development and operation of Guanamo International Airport (project) in Medan, Indonesia) On December 23.

The award letter for the project was received on November 23.

By signing the agreements, GMR entered into a 49:51 partnership with APII, the state-owned entity that is bidding for the Kuala Lumpur International Airport. The consortium will transform Kuala Lumpur International Airport into an international western hub for Indonesia.

The scope of the project includes the operation, development and expansion of the airport over a period of 25 years. Kualanamo International Airport is a cash flow airport.

Medan is the fourth largest metropolitan area in Indonesia and is the capital of North Sumatra Province, with a population of over 3.4 million. The airport handled more than 10 million passengers in 2018.

Earlier in November 2021, APII completed the final evaluation process for the selection of the Kuanamo International Airport strategic partnership and announced that GMR Airports was the winning bidder.

GMR Airports Limited and its 100% subsidiary, GMR Airports International BV, have submitted bids for the project as a consortium. GMR Airports has won the tender for this Brownfield Airport through a competitive and close international tender.

Commenting on the development, Srinivas Pomidala, Chairman of Energy and International Airports, GMR Group, said: “GMR’s entry into the Indonesian aviation sector is an important step in support of the Government of India’s ‘Look East’ policy. East” GMR is pleased to demonstrate its commitment to this call by Working to benefit from its experience to strengthen this important partnership in Indonesia.”

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“Our cooperation with Angkasa Pura II is a testament to the trust placed in us by the Indonesian government and authorities. We will strive to do our best for the beautiful and strategic ASEAN country.

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