Airports

Indian Operator Signs MOUs To Develop New Airports In Indonesia

Aviation Daily Jan 26 , 2011 , p. 01

Neelam Mathews

GVK Power and Infrastructure Limited (GVK), operator of India’s two leading airports—Chhatrapati Shivaji International in Mumbai and Bengaluru International—has signed memorandums of understanding (MOUs) with Indonesia to develop and manage greenfield international airports in Bali and Java. The scope of the agreements provides exclusivity to GVK and includes planning, design and development, operations and management, as well as all associated infrastructure, land and commercial development. The MOU for the Bali airport is a three-way agreement among Badan Koordinasi Penanaman Modal (BKPM), a board set up by the government of Indonesia for the facilitation of domestic and foreign investment; PT Pembangunan Bali Mandiri, a special purpose vehicle for airport development, and GVK. The MOU for the Java airport is an agreement among Angkasa Pura I, an Indonesian government-owned airport operations and management company; BKPM and GVK. “The signing of these MOUs marks a significant milestone for GVK. Our capabilities, expertise and strong track record in the airports sector is well established in India. We are very excited by the opportunity to create new landmarks in Bali and Java, and we are confident that this agreement will yield significant synergies for all parties involved,” said G. V. Krishna Reddy, GVK chairman.