Page 64 - CO January 2022

TICKER TAPE
INTERNATIONAL GMR Airports Limited (GAL), a subsidiary of GMR Infrastructure
GMR ANNOUNCED AS THE WINNING BIDDER FOR
DEVELOPMENT AND OPERATION OF KUALANAMU
INTERNATIONAL AIRPORT IN MEDAN, INDONESIA

Limited is the winning bidder for the development and operation
of Kualanamu International Airport in Medan, Indonesia (“Medan
Airport”).
In a communication addressed to GMR Airports Consortium
Team, Angkasa Pura 2 (AP2), the state owned enterprise and
the bidding authority for the Medan Airport has informed that
they have completed the best and final evaluation process for
selection of strategic partnership for the Medan Airport and have
announced GMR Airports as the Winning Bidder. It may be noted
that GMR Airports Limited and its wholly owned subsidiary, GMR
Airports International B.V had bid for the project as consortium. of the airport over a period of 25 years. Kualanamu International
Medan is the 4th largest urban area in the country and is capital Airport is an operating Airport with healthy cash flows. GMR Airports
of North Sumatra province. GMR will enter into 49:51 partnership won the bid for this high growth potential brownfield Airport, through
with AP2 for this project. The consortium will transform Kualanamu a closely contested international competitive bid process and will
International Airport into Western International hub of Indonesia. partner with Angkasa Pura 2 (AP2). The letter of award is expected
The airport handled more than 10 million passengers in 2018. The to be issued in next few days, post bid formalities, while signing of
project scope includes operation, development and expansion project agreements before end of the year.

ADB APPROVES $250 MILLION LOAN FOR INDIA’S INDUSTRIAL CORRIDOR DEVELOPMENT
The Asian Development Bank (ADB) has approved
a $250 million (about `1,875 crore) loan to support
India’s National Industrial Corridor Development
Program (NICDP). This is the first subprogram of the
programmatic $500 million loan to develop 11
industrial corridors spanning 17 states. NICDP aims
to develop world-class industrial nodes that are
supported by efficient urban agglomerations and
multimodal connectivity, including international
gateways like ports and airports and inclusive,
climate-resilient, and sustainable infrastructure. The
national programme also seeks strong institutional
and regulatory frameworks. ADB said the first
subprogram loan will help government initiatives
strengthen institutional framework and capacity
development for industrial corridor planning,
improve project readiness, facilitate ease of doing
business, and thereby create opportunities for
domestic and foreign investors. ADB’s assistance
complements the government’s ambitious reform
agenda to strengthen industrial infrastructure and
support the country to boost the competitiveness
of its manufacturing sector, increase the share of
manufacturing in the gross domestic product,
and generate a high level of formal employment.
India recently upgraded its Industrial Park Rating
System (IPRS) to boost industrial infrastructure
competitiveness and support policies to enable
industrialisation across the country. As part of NICDP,
it is also developing guidelines for green corridor
frameworks and climate-resilient infrastructure as well
as focusing on enhancing skills for the participation
of female labour.

64 CONSTRUCTION OPPORTUNITIES|JANUARY 2022