GVK Power and Infrastructure to develop two greenfield airports in Indonesia

GVK Power and Infrastructure Ltd has signed MoUs to develop two new greenfield airports at North Bali and Yogyakarta in Java, Indonesia.

The new Bali Airport project involves Badan Koordinasi Penanaman Modal (a board set up by the government of Indonesia for the facilitation of domestic and foreign investment), PT Pembangunan Bali Mandiri (a special-purpose vehicle for airport development) and GVK Power, according to a DNA India report. The Yogyakarta Airport is a venture between one of the two national airport operators Angkasa Pura I, Badan Koordinasi and GVK Power. More information and analysis will be forthcoming in the Feb-2011 edition of CAPA's Airport Investor Monthly subscriber report.

GVK operates Mumbai Chhatrapati Shivaji International Airport and Bengaluru International Airport. Its shares fell 3.5% yesterday.

Selected airport daily share price movements (% change): 27-Jan-2011