India's conglomerate and infrastructure developer GVK Power & Infrastructure Ltd. said it had signed an operations and management contract with the Indonesian government airport operator Airports Authority of Indonesia (Angkasa Pura Airports AP1) to manage the non-aeronautical commercial operations at Indonesia's second busiest Bali (Denpasar) International Airport.
The scope includes both, the existing terminals and the new international terminal which is currently under construction and is expected to open in the third quarter of 2013 with a major make-over.
Speaking on the occasion, GVK Chairman GVK Reddy said, "This development is a true testament to GVK's established track record in the operation and management of India's leading airports in Mumbai and Bangalore. We are happy to strengthen our relationship with Indonesian government further with this association and we are committed to bring our expertise and experience in transforming the Denpasar International Airport in Bali as well."
At the BSE, GVK Power & Infrastructure shares are currently trading at Rs.12.80, down 1.99 percent from the previous close.
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