India-based GMR Airports’ joint venture (JV), Angkasa Pura Aviasi (APA), has taken over the operational charge of the Kualanamu International Airport in Medan, Indonesia.
APA is a JV of GMR Airports, a subsidiary of India-based GMR Infrastructure, and Angkasa Pura II (APII), the Indonesian state-owned airport operator of about 20 airports.
GMR Group has expanded its global footprint with the latest development.
Currently, it is the only India-based airport operator to have a significant footprint in South-East Asia and Europe, reported Capital Market.
In the Philippines, GMR operates the Mactan Cebu International Airport (MCIA) and has recently completed construction work at Clark Airport.
The Medan airport would be the company’s second airport in its South-East Asia portfolio.
GMR is also developing a greenfield airport at Crete in Greece.
Last November, GMR Airports won the bid to develop the Medan airport. The following month, the shareholders’ agreement (SHA) and share subscription agreement (SSA) were signed by GMR Airports with APII, according to a report by the Press Trust Of India (PTI) in Business Standard.
For the Medan airport project, GMR formed a 49:51 partnership with APII.
GMR Group chairman of Energy and International Airports Srinivas Bommidala said: “We would like to take this opportunity to reiterate our commitment to transforming Medan airport into the western international hub of Indonesia and contributing to the overall infrastructure development of the country.”
