GMR Airports enters in high growth Indonesian aviation market by admin- Monday, December 27th, 2021 04:11:43 PM
GMR Airports Netherlands B.V., a step down subsidiary of GMR Airports (GAL), on December 23, 2021, signed the Shareholders’ Agreement (SHA) and Share Subscription Agreement (SSA) with Angkasa Pura II (AP II) for the improvement and operation of Kualanamu International Airport (Project) in Medan, Indonesia. The letter of award for the venture became obtained on November 23, 2021.
With the signing of the agreements, GMR enters into 49:fifty one partnership with APII, the state owned employer and the bidding authority for the Kualanamu International Airport. The consortium will rework Kualanamu International Airport into Western International hub of Indonesia.
The assignment scope consists of operation, development and enlargement of the airport over a period of 25 years. Kualanamu International Airport is an operating Airport with healthy coins flows.