Indonesia’s State airport operator, PT Angkasa Pura II, plans to develop Kualanamu International Airport (KNO) compounds in North Sumatra Province into an aerocity and hub for passengers and freight in the western parts of Indonesia.
To expedite the planned project which, will cost an estimated USD 500 million, PT Angkasa Pura II will use a strategic partnership scheme, PT Angkasa Pura II Director of Strategic Transformation, Armand Hermawan, said in an official statement. “Right now, 19 corporations have been interested in becoming strategic investors. They come from Southeast Asia, Europe and East Asia,” he said. Through the strategic partnership scheme, PT Angkasa Pura II and strategic investors will set up a joint venture (JV) company called PT Angkasa Pura Avoasi to manage and develop Kualanamu Aerocity. Hermawan added that PT Angkasa Pura II will issue request for proposal (RfP) documents to interested corporations. “The RP documents will be issued to prospective investors at the end of January 2020,” he said, adding: “The RP carries structure of cooperation transaction to be conducted by PT Angkasa Pura and strategic investors.” PT Angkasa Pura II plans to complete the entire process of selecting strategic investors in the middle of 2020 and sign a cooperation agreement with the strategic investors in July 2020. Kualanamu Airport’s terminal is currently capable of serving 8 million passengers per year and is targeted to be able to serve up to 17 million passengers in 2024.