GMR Infra's JV with Angkasa Pura II assumes operational charge of Medan Airport in Indonesia

8 Jul 2022 , 09:23 AM

Angkasa Pura Aviasi (APA), a joint venture company of GMR Airports Limited (Subsidiary of GMR Infrastructure Limited) and Indonesia’s state-owned airport operator Angkasa Pura II (AP2), announced that it has taken over operational responsibility of the Kualanamu International Airport in Medan, Indonesia (Medan Airport).

In the presence of Budi Karya Sumadi, Minister of Transportation (MOT), Erick Thohir, Minister of State-Owned Enterprises (MSOE), Edy Rachmayadi, Governor of North Sumatra, and Muhammad Awaluddin, President Director, Angkasa Pura 2, the joint venture formally took over the operations of Medan airport today.

The GMR Group has thus expanded its international footprint. It is the only airport operator in India with a significant presence in South-East Asia and Europe. GMR currently operates the Mactan Cebu International Airport (MCIA) in the Philippines and recently completed the construction of Clark Airport in the Philippines.

Medan airport would be the company’s second operating asset in South-East Asia. The Group is also planning a greenfield airport on the Greek island of Crete (Europe).

GMR Airports Limited had submitted a bid to develop and operate Medan Airport. PT Angkasa Pura II conducted an international selection process to find a strategic partner for Medan Airport.

APII is a state-owned company that manages 20 airports in Indonesia.

At around 9.27 AM, GMR Infrastructure was trading at Rs34.90 up by Rs0.25 or 0.72% from its previous closing of Rs34.65 on the BSE. The scrip opened at Rs35 and has touched a high and low of Rs35.05 and Rs34.75 respectively.