GMR Airports Netherlands B.V., a step down subsidiary of GMR Airports
(GAL), on 23 December 2021, signed the Shareholders' Agreement (SHA) and Share Subscription Agreement (SSA) with Angkasa Pura II (AP II) for the development and operation of Kualanamu International Airport
(Project) in Medan, Indonesia. The letter of award for the project was received on 23 November 2021.
With the signing of the agreements, GMR enters into 49:51 partnership with APII, the state owned enterprise and the bidding authority for the Kualanamu International Airport. The consortium will transform Kualanamu International Airport into Western International hub of Indonesia.
The project scope includes operation, development and expansion of the airport over a period of 25 years. Kualanamu International Airport is an operating Airport with healthy cash flows.
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