Korean Consortium Lands Indonesian Airport terminal Project

A consortium of Incheon AIRPORT TERMINAL Corporation and local companions has won a W600 billion contract to build up and operate an airport in Indonesia (US$1=W1,130).

The consortium was declared the winning bidder for Hang Nadim International Airport in Batam, Riau Islands, a spokesman said Sunday.

The Korean consortium beat different global airport operators such as for example Flughafen Zurich AG and Egis Group of France. With its companions -- PT Angkasa Pura 1, Indonesia's state-run airport operator, and builder PT Wijaya Karya Tbk -- IIAC will create a second passenger terminal for the airport terminal by 2024 and refurbish the prevailing terminal.

The 25-year contract to use it'll last until 2046.

Batam was first designated Indonesia's first free trade zone in '09 2009 plus some 1,000 businesses operate found in its 22 commercial parks. It sits merely over the Singapore Strait from Singapore. The airport opened in 1984 and is normally in dire want of an overhaul as some 4.5 million passengers used it in 2019.

8 carriers including Ryanair operate 23 routes to the island, which is also a favorite tourist destination.

The consortium expects the gross annual number of passengers to grow 6.3 percent over another 25 years to attain 24.6 million by 2046.

"We've succeeded in diversifying the IIAC's income stream, which was centered on leasing out rental space for duty-free shops and other businesses," the IIAC spokesman added.