Hyderabad-based infrastructure development company GVK Power, which runs the airports at Mumbai and Bangalore, will develop international airports at Bali and Yogyakarta.
The company has signed a memorandum of understanding (MoU) with the Indonesian government giving them the go-ahead to design, operate and manage the new airports with an exclusivity clause.
“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 the Economic Times in India.
It is estimated that the group will pump more than US$3billion into the development of these greenfield projects.
Bali’s current international airport is close to its capital, Denpasar. GVK has proposed to develop an airport in the northern part of Bali.
