GMR Group inks shareholders’ agreement with Indonesia’s Angkasa Pura II for Medan Airport
Infrastructure major GMR Group said on Friday it has signed shareholders agreement with Indonesia’s Angkasa Pura II for the development of Medan Airport on December 23. GMR Airports, a part of the GMR group, had in November won the bid for this high growth potential brownfield airport, through a closely contested international competitive bid process.
The letter of award for the project was received on November 23 this year, the company said.
Medan is the fourth largest urban area in the country and is capital of North Sumatra province. An operating airport with healthy cash flows, it handled more than 10 million passengers in 2018.
