The Incheon International Airport Corp. (IIAC) will invest in a 30 percent stake in a 600 billion-won expansion of Indonesia's Hang Nadim Batam airport by 2024,
South Korea's main airport operator had formed a consortium with Indonesia's state-run airport operator PT Angkasa Pura 1 (AP1) and local construction firm PT Wijaya Karya Tbk (WIKA) in the airport development project.
An IIAC spokesman noted that the deal is South Korea's first overseas airport development and operation deal.
The Hang Nadim Batam airport handled 4.5 million passengers in 2019, with eight airlines such as Garuda Indonesia and Ryanair, offering 23 routes through it.
The IIAC has won deals worth $227 million in 15 countries to operate overseas airports and offer consulting services.


Kroger Set to Name Former Walmart Executive Greg Foran as Next CEO
Innovent Biologics Shares Rally on New Eli Lilly Oncology and Immunology Deal
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch
Anta Sports Expands Global Footprint With Strategic Puma Stake
Uber Ordered to Pay $8.5 Million in Bellwether Sexual Assault Lawsuit
Trump Backs Nexstar–Tegna Merger Amid Shifting U.S. Media Landscape
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate
American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns
Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge
Hims & Hers Halts Compounded Semaglutide Pill After FDA Warning
TrumpRx Website Launches to Offer Discounted Prescription Drugs for Cash-Paying Americans
Washington Post Publisher Will Lewis Steps Down After Layoffs
Taiwan Says Moving 40% of Semiconductor Production to the U.S. Is Impossible
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 



