Incheon Intl. Airport signs contract for Indonesian airport project W600b

This from Incheon International Airport Corp. Photo provided shows Hang Nadim International Airport on the Indonesian island of Batam. (Incheon International Airport Corp.)

Incheon International Airport Corp. (IIAC), South Korea’s largest airport operator, announced Tuesday that it had forged a 600 billion won ($ 530 million) contract to develop and operate an airport in Indonesia.

The company said it held a signing ceremony with the Batam Indonesia Free Zone Authority on Batam Island in the Southeast Asian country for the contract to develop and operate the Hang Nadim International Airport.

The ceremony was attended by IIAC President Kim Kyung-wook and Airlangga Hartarto, Indonesia’s Coordinating Minister for Economic Affairs, among others.

The deal provides that IIAC will expand the airport facility and operate it for 25 years. It is South Korea’s first international airport development and operation agreement. Construction is scheduled to start in June 2022.

Kim said IIAC will export the South Korean airport operations platform by expanding the company’s overseas operations through partnerships with domestic companies. (Yonhap)


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