An Indian Company will Manage Kualanamu Airport

TheIndonesia.id - PT Angkasa Pura II released its 49 percent stake in Kualanamu Airport in Deli Serdang, North Sumatra, to an Indian company called GMR Airport Internasional.

Special Staff to the Minister of State-Owned Enterprise, Arya Sinulingga, in a statement quoted in Jakarta, Friday, November 26, 2021, said that the state would still benefit from the actions carried out by a subsidiary of PT Angkasa Pura II. "Angkasa Pura II gets two benefits, namely funds of 1.58 trillion from GMR and there is construction and development of Kualanamu of Rp56 trillion with the first phase of Rp3 trillion," he said.

Arya said the sale of 49 percent of the shares meant that the company did not need to spend Rp58 trillion for the development of Kualanamu Airport because the airport construction project was borne by partners. According to him, funds of Rp 1.58 trillion can be used by Angkasa Pura II for the development and construction of new airports in Indonesia.

"This is called empowering assets without losing assets, even if the assets are enlarged many times," he explained.

Angkasa Pura II with GMR formed a joint venture company called PT Angkasa Pura Aviasi to manage and control Kualanamu International Airport.

Angkasa Pura II is the majority shareholder by controlling 51 shares in Angkasa Pura Aviation, while GMR holds 49 percent of the shares. This collaboration will manage Kualanamu for 25 years and all development costs will be covered by a Build-Operate-Transfer (BOT) system. After 25 years, the assets will be returned to Angkasa Pura II.