As many as 39 local and foreign investors have expressed interest in partnering with state-owned airport operator PT Angkasa Pura II to develop Kualanamu International Airport in Medan, North Sumatra, into a world-class regional hub.

Angkasa Pura II president director Muhammad Awaluddin said the majority of the companies came from East Asia, West Asia, Southeast Asia and Europe, while eight were Indonesian companies.

“We plan for the selection process to be completed by the fourth quarter of 2020,” he said in Jakarta on Monday, adding that his company would be open to proposals until June.

The airport operator is seeking a strategic partner to help expand Kualanamu airport’s capacity to welcome international arrivals, allowing it to compete with the regional hubs of Changi International Airport in Singapore, Kuala Lumpur International Airport and Suvarnabhumi Airport in Bangkok.

“The candidates must have the capability to boost international traffic to Kualanamu and make it a regional hub for destinations in East Asia and South Asia,” said Awaluddin.

“Together, we will redesign and improve Kualanamu’s capacity,” he said, expressing hope the airport could become as important as Soekarno-Hatta International Airport in Tangerang, Banten.

Kualanamu is more strategically located than Soeakarno-Hatta as it closer to many Asian countries, such as China, Singapore, Thailand and Malaysia, as well as countries in the Middle East and Europe.

However, international flights to the airport account for only 11 percent of its total traffic.

“The target is for international flights to account for 40 to 45 percent of the airport’s traffic,” he said.

Angkasa Pura II plans increase the airport’s capacity to 40 million passengers per year from 8 million at present.