GMR signs agreements to develop Indonesia’s Kualanamu Airport

GMR Airports Limited has signed two agreements with Angkasa Pura II to develop and run Indonesia’s Kualanamu International Airport. The agreements, which includes the Shareholders’ Agreement (SHA) and Share Subscription Agreement (SSA), has been signed by GAL step-down subsidiary GMR Airports Netherlands. As agreed, GMR has formed a 49:51 partnership with APII, the state-owned enterprise and the bidding authority for the Kualanamu International Airport. The scope of the project covers operation, development, and extension of the airport over a period of 25 years. Kualanamu International Airport, an operating aviation gateway with healthy cash flows, managed over ten million passengers in 2018. Last month, GAL emerged as the winning bidder to develop and run Kualanamu International Airport. This came after APII concluded the final evaluation process for selection of strategic partnership for the airport.<br/>