GMR wins bid for development, operations of Kualanamu airport in Indonesia

GMR Airports Limited (GAL)said it won a bid for the development and operation of Kualanamu International Airport in Medan, Indonesia

: GMR Airports Limited (GAL), a subsidiary of GMR Infrastructure Limited, on Thursday said it won a bid for the development and operation of Kualanamu International Airport in Medan, Indonesia.

Angkasa Pura 2 (AP2), the state-owned enterprise and the bidding authority for the Medan Airport has informed that they have completed the best and final evaluation process for selection of strategic

partnership for the aerodrome and have announced GMR Airports as the Winning Bidder, a press release from GMR said.

Medan is the fourth largest urban area in the country and is capital of North Sumatra province. GMR will enter into 49:51 partnership with AP2 for this project. The consortium will transform Kualanamu

International Airport into Western International hub of Indonesia, it said.

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.

GMR Airports won the bid for this high growth potential brownfield airport, through a closely contested international competitive bid process and will partner with Angkasa Pura 2 (AP2). The letter of award is expected to be issued in next few days, post bid formalities, while signing of project agreements before end of the year.

Commenting on the development, Srinivas Bommidala, Chairman Energy & 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 fast growing Indonesian Aviation sector the largest in ASEAN and a high potential market and the group would like to take the opportunity to reiterate its

commitment to transform Medan Airport into a Western International hub of Indonesia and contribute to overall infrastructure development of the country, he further said.