GMR Infra shares surge 1.13% after winning Indonesia airport bid
AVIATION & AIRPORTS

GMR Infra shares surge 1.13% after winning Indonesia airport bid

Shares of GMR Infrastructure surged 1.13% to Rs 40.25 after its subsidiary GMR Airports (GAL), was declared the leading bidder for the development and operation of Kualanamu International Airport in Medan, Indonesia.

In a message for GMR Airports Consortium Team, Angkasa Pura 2 (AP2), the state-owned enterprise and the bidding authority for the Medan Airport have notified that they have done the best and final evaluation process for the strategic partnership selection for the Medan Airport and have declared GMR Airports as the winning bidder.

GMR Airports and its wholly-owned subsidiary, GMR Airports International B.V, had offered the project as a consortium.

Medan is the fourth-largest urban region in the nation and is the capital of North Sumatra province. For this project, GMR Infrastructure will enter into a 49:51 partnership with AP2. The consortium will modify Kualanamu International Airport into the Western International hub of Indonesia.

The airport managed over 10 million passengers in 2018. The project scope comprises the operation, enhancement and enlargement of the airport over 25 years. Kualanamu International Airport is a working Airport with good cash flows. GMR Airports won the proposal for this high increase potential brownfield Airport, via a closely contested international competitive tender process and would partner with Angkasa Pura 2 (AP2). The letter of award is likely to be released in the coming few days, post-bid formalities while signing project deals before the end of the year.

On a consolidated basis, GMR Infrastructure registered a net loss of Rs 169.21 crore in Q2 September 2021 compared to a net loss of Rs 750.03 crore in Q2 September last year. Net sales grew 49.4% to Rs 1,791.32 crore in Q2 September this year compared to Q2 September 2020.

GMR Infrastructure is a prominent global infrastructure conglomerate with interests in energy, airport, transportation and urban infrastructure.

Image Source

Also read: GMR Infrastructure records net consolidated loss of Rs 169.21 cr in Q2

Shares of GMR Infrastructure surged 1.13% to Rs 40.25 after its subsidiary GMR Airports (GAL), was declared the leading bidder for the development and operation of Kualanamu International Airport in Medan, Indonesia. In a message for GMR Airports Consortium Team, Angkasa Pura 2 (AP2), the state-owned enterprise and the bidding authority for the Medan Airport have notified that they have done the best and final evaluation process for the strategic partnership selection for the Medan Airport and have declared GMR Airports as the winning bidder. GMR Airports and its wholly-owned subsidiary, GMR Airports International B.V, had offered the project as a consortium. Medan is the fourth-largest urban region in the nation and is the capital of North Sumatra province. For this project, GMR Infrastructure will enter into a 49:51 partnership with AP2. The consortium will modify Kualanamu International Airport into the Western International hub of Indonesia. The airport managed over 10 million passengers in 2018. The project scope comprises the operation, enhancement and enlargement of the airport over 25 years. Kualanamu International Airport is a working Airport with good cash flows. GMR Airports won the proposal for this high increase potential brownfield Airport, via a closely contested international competitive tender process and would partner with Angkasa Pura 2 (AP2). The letter of award is likely to be released in the coming few days, post-bid formalities while signing project deals before the end of the year. On a consolidated basis, GMR Infrastructure registered a net loss of Rs 169.21 crore in Q2 September 2021 compared to a net loss of Rs 750.03 crore in Q2 September last year. Net sales grew 49.4% to Rs 1,791.32 crore in Q2 September this year compared to Q2 September 2020. GMR Infrastructure is a prominent global infrastructure conglomerate with interests in energy, airport, transportation and urban infrastructure. Image Source Also read: GMR Infrastructure records net consolidated loss of Rs 169.21 cr in Q2

Next Story
Infrastructure Transport

Metro Line 2B Phase 1 to Boost Realty in Mumbai’s Eastern Suburbs

Mumbai’s real estate sector is set for a major boost as Phase 1 of Metro Line 2B, between Mandale and Diamond Garden, nears completion. The Mumbai Metropolitan Region Development Authority (MMRDA) has confirmed that mandatory rectifications are done, and inspections by the Commissioner of Metro Railway Safety (CMRS) have been carried out. The 5.39-km stretch with five stations forms part of the larger DN Nagar–Mandale corridor, designed to ease congestion and improve east–west connectivity. Passenger operations are expected by December 2025, with the full line slated for 2027. ..

Next Story
Resources

WattPower wins Best Inverter award at Global Solar Expo 2025

WattPower, a leading renewable energy solutions provider, has won the award for “Best Inverter in the Utility Segment” at the Global Solar Expo 2025. The recognition underscores the company’s commitment to delivering reliable, high-performance and future-ready solar solutions for large-scale projects. At the forefront of utility-scale solar, WattPower manufactures advanced string inverters that directly feed power into the Indian grid. With robust technology, high-quality components and comprehensive product lifecycle support, its solutions stand among the most sophisticated in the ..

Next Story
Real Estate

Awfis delivers 67,000 sq. ft. innovation hub for eBay in Bengaluru

Awfis Space Solutions, India’s largest flexible workspace provider and the first publicly listed workspace solutions platform, has partnered with eBay to establish a 67,000 sq. ft. innovation hub at Embassy Tech Village, Bengaluru. The mandate covers design, build and management of the new office, which will act as a strategic hub supporting diverse functions and accelerating eBay’s AI-first commerce strategy. The centre will focus on artificial intelligence, engineering, product development and applied research, strengthening eBay’s growth in India. Embassy Tech Village, North Beng..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?