The Kualanamu International Airport in Medan, Indonesia, has begun to be run by MR Group's joint venture, Angkasa Pura Aviasi, as per a statement released on Friday.
PT Angkasa Pura II, the state-owned airport operator in Indonesia, and GMR Airports Ltd. have partnered to become Angkasa Pura Aviasi (APA).
With the project, GMR Airports, a subsidiary of GMR Infrastructure, has entered the burgeoning Indonesian aviation sector and the project will encompass a partnership duration of 25 years, the statemnt said.
In the presence of Edy Rachmayadi, Governor of North Sumatra, Budi Karya Sumadi, Minister of Transportation, Erick Thohir, Minister of State-Owned Enterprises, and Muhammad Awaluddin, President Director, Angkasa Pura II, the joint venture officially took over the operations of Medan airport, as per reports.
GMR Group currently manages the airports in Delhi, Hyderabad, and the Philippines' Mactan Cebu International Airport (MCIA). Additionally, it has completed building Clark Airport in the Philippines and is now developing a new airport in Crete, Greece.
In order to choose a strategic partner, PT Angkasa Pura II initiated an international selection process after GMR Airports submitted a bid for the construction and operation of Medan Airport.
GMR Airports was identified as the successful bidder in November 2021. In December 2021, PT Angkasa Pura II and the Shareholders' Agreement (SHA) and Share Subscription Agreement (SSA) were both signed. GMR and PT Angkasa Pura II formed a 49:51 joint venture for the project.
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