Subsidiary of GMR bags contract to develop Indonesia’s Kualanamu Airport.
- ByStartupStory | December 25, 2021
GMR Airports Netherlands B.V., a subsidiary of GMR Airports Limited (GAL), has signed a Shareholders’ Agreement (SHA) and Share Subscription Agreement (SSA) with Indonesia’s state-owned airport operator Angkasa Pura II for the development and operation of Indonesia’s Kualanamu International Airport. The subsidiary has entered into a 49%-51% partnership with the Indonesian company to operate, develop and expand the airport at Medan, one of the largest metropolitan cities in the country, for a period of 25 years.
Chair of Energy and International Airports at GMR Group, Srinivas Bommidala said in a statement, “GMR’s entry into the Indonesian aviation sector is a significant step in support of the Indian government’s policy to Look East. With our global aviation expertise, we aspire to transform Kualanamu International Airport into a Western International hub of Indonesia and contribute to the overall infrastructure development of the country”
The GMR Group has also bagged operation in India’s busiest Indira Gandhi International Airport in New Delhi, Hyderabad’s Rajiv Gandhi International Airport, Mactan Cebu International Airport in partnership with Megawide in the Philippines while greenfield projects under development includes an airport at Mopa in Goa and another airport at Heraklion, Crete, Greece in partnership with GEK Terna and has completed construction of a new terminal building of Clark International Airport.
This announcement comes days after GMR Infrastructure Ltd. (GIL) said that it has received an approval from the National Company Law Tribunal’s (NCLT) for the demerger of its non-airport businesses, which will pave the way for the company to restructure its various business verticals, and list its airports business separately.
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