Indonesia to Invest USD485M to Expand 6 Airports

An Indonesian state-run airport operator will invest IDR4.2 trillion ($484.7 million) to expand facilities as more people travel by air, The Nikkei reported in its Tuesday morning edition.
Angkasa Pura I has earmarked the sum to add runways as well as expand or improve airport terminals and cargo facilities at six airports.
Over a period through 2013, the company will spend IDR1.94 trillion, IDR1.57 trillion and IDR408 billion at the Bali, Balikpapan and Surabaya airports, respectively. It will also expand Semarang, Banjarmasin and Kupang airports.
In addition, the firm plans to spend IDR1.2 trillion to build a new airport in Yogyakarta. As Indonesia's economy has grown by 4-6% a year since 2002, passengers at Balikpapan airport soared to exceed government-set capacity thresholds by more than threefold last year.
The company will also establish 12 subsidiaries to branch out into such businesses as hotels, real estate, advertising, cargo and distribution.