Indian Airline NEWS: GVK Power to build airports in Bali, Java

MUMBAI | BANGALORE: Hyderabad-based infrastructure development company GVK Power and Infrastructure (GVKPIL), which also runs the airports at Mumbai and Bangalore, will develop international airports at Bali and Java in Indonesia.

This will be the company's first successful agreement with a foreign government for an international project after its failed attempt for modernisation and upgradation of the Male airport in Maldives last year. The company signed a memorandum of understanding (MoU) with the Indonesian government on Tuesday for execution of these projects right from conception to design to operating and managing these airports with an exclusivity clause.

"The Indonesian airport projects are strategically the next move for GVK. Java and Bali are growing very fast. We have to get a feasibility study done for traffic, investment and terms to be submitted to the Indonesian government," GV Krishna Reddy, chairman, GVKPIL, told ET.

He, however, did not gives any specific details outlining the project but it is estimated that the group will pump in close to $3billion to $4 billion in the development of these greenfield projects. GVKPIL will be partnering for these projects with Indonesian government's special purpose vehicle for airport development and a board for foreign investments.

Aviation experts feel because nothing much is happening in India in terms of projects to be bid under public private partnership, Indian companies which have obtained expertise in airport operations are now flexing muscles in the international arena.

"GVK has ambitions to build international airports and for this it needs to have airports abroad under its portfolio. The development of airports closer home like the one in Indonesia will help it create that critical mass which will help it bid for airports internationally," said Amber Dubey, director, (Aerospace and Defense) at consultancy firm KPMG.

Bali's current international airport is in its capital Denpasar, and is the third largest airport in Bali, GVK has proposed to develop an airport in the northern part of Bali.

NEHA JAIN

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