GMR Airports Limited (GAL), a subsidiary of GMR Infrastructure Limited, was announced as the winning bidder for the development and operation of Kualanamu International Airport in Medan, Indonesia on Thursday.
Angkasa Pura 2 (AP2), the state-owned enterprise and the bidding authority for the Medan Airport has said that they have completed the final evaluation process for selection of strategic partnership for the Medan Airport and have announced GMR Airports as the winning bidder.
GMR Airports Limited and its wholly-owned subsidiary, GMR Airports International B.V, bid for the project as a consortium.
The company will enter into a 49:51 partnership with AP2 for this project. Its statement says that the consortium "will transform Kualanamu International Airport into a western international hub of Indonesia."
GMR Airports Limited (GAL), a subsidiary of GMR Infrastructure Limited, was today announced as the winning bidder for the development and operation of Kualanamu International Airport in Medan, Indonesia.
Medan is the fourth-largest urban area in the country and is the capital of North Sumatra province.
The airport handled more than 10 million passengers in 2018. The project includes the operation, development and expansion of the airport over 25 years.
"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. The bid win also reinforces GMR Group's credentials as one of the largest airport developers and operators across the world," said Srinivas Bommidala, Chairman Energy & International Airports, GMR Group.
Shares of GMR Infrastructure Limited was last trading in BSE at Rs 39.80 as compared to the previous close of Rs 40.80.
The stock hit an intraday high of Rs 41.00 and intraday low of Rs 39.60. The net turnover during the day was Rs 57950929.
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