South Korea’s state-run Incheon International Airport Corp. (IIAC) is expanding the Hang Nadim International Airport in the Indonesian island region of Batam – located near Singapore – in a bid to turn the airport into Indonesia’s as well as ASEAN’s next major air hub over the next two decades, according to various media reports.
The Hang Nadim airport is operated and developed by PT Bandara Internasional Batam (BIB), a joint venture between the South Korean airport operator, who holds 30% stake, and its two Indonesian counterparts (state-run airport operator Angkasa Pura I (API) and government-backed construction firm PT Wijaya Karya Tbk (WIKA). API owns 51% stake in the joint venture, while the remaining stake is owned by WIKA.
IIAC said recently that the BIB will increase its operating profit to 6 billion won (or around US$4.6 million) this year from around 300 million won last year. The Hang Nadim airport expansion, spanning from 2022-2047, is budgeted at around 600 billion won (or around US$460 million). (Wong Kin Ang)
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