CaribbeanFever / FeverEyes / CaribFever

Caribbean Fever - Your ONLY destination to all things Caribbean and more

The Norman Manley International Airport in Jamaica is Now Being Run by a Mexican Entity

PRIME MINISTER ANDREW HOLNESS (LEFT, STANDING); AND TRANSPORT AND MINING MINISTER ROBERT MONTAGUE (2ND LEFT, STANDING), OBSERVE AS CHIEF EXECUTIVE OFFICER OF MEXICAN ENTITY, GRUPO AEROPORTUARIO DEL PACIFICO S.A.B. DE C.V. (GAP), RAUL REVUELTA MUSALEM (2ND RIGHT, SEATED), SIGNS THE 25-YEAR NORMAN MANLEY INTERNATIONAL AIRPORT CONCESSION AGREEMENT. ALSO OBSERVING (FROM LEFT, SEATED) ARE: PRESIDENT AND CHIEF EXECUTIVE OFFICER, AIRPORTS AUTHORITY OF JAMAICA (AAJ), AUDLEY DEIDRICK; AAJ CHAIRMAN, HON. WILLIAM SHAGOURY; AND HEAD OF GAP SUBSIDIARY, PAC KINGSTON AIRPORT LIMITED, SAUL VILLARREAL GARCIA. AT RIGHT (STANDING) IS NMIA ENTERPRISE TEAM CHAIRMAN, PAUL B. SCOTT. (CREDIT: JIS)

The Jamaica Government has divested operations at the Norman Manley International Airport (NMIA) to a Mexican entity which will take charge of running the facility for at least the next quarter of a century.

Under a 25-year concession agreement signed yesterday, Grupo Aeroportuario del Pacifico S.A.B. De C.V. (GAP) will be responsible for improving the airport’s land and air operational efficiency, and financing and completing a modernization programme, at an estimated cost of over U$110 million.

Additionally, the Government will receive a guaranteed percentage of the airport’s gross revenues. The entity has the option to extend the arrangements by an additional five years.

GAP emerged the preferred of three bidders, which included two consortia of foreign and local investors. Their selection followed the public opening and evaluation and Cabinet’s subsequent approval in September of the three bid submissions received by the Development Bank of Jamaica (DBJ) in July. The transaction value for GAP’s bid totals over US$2 billion.

Prime Minister Holness, who witnessed the signing ceremony with Transport and Mining Minister Robert Montague, said the transaction represents another successful public-private partnership (PPP) deal, coming on the heels of similar arrangements with the Kingston Container Terminal and North-South Highway.

“The successful outcome of this public-private partnership attests to the transparency and equity of the process as well as the professionalism, accountability and integrity of all stakeholders involved,” he said.

Holness argued that this type of investment modality is critical to the Government’s economic growth strategy, adding that “it is evident that PPPs are excellent vehicles for unlocking the value of assets, reducing debt and mobilizing local and foreign investment in our economy.”

In his remarks, Montague said the aviation sector’s critical role to tourism and the services sector “made clear the need for [the] modernization and development of our airports.”

“Through a thorough analysis, the Government decided that privatization was the best available option for mobilizing the considerable resources that would be required to achieve our objective,” he noted.

Montague said the transfer of financing and operational responsibilities to GAP now enables the Airports Authority of Jamaica to focus on managing the concessions at NMIA and the Sangster International Airport in Montego Bay, which the Mexican entity has been managing through subsidiary company, Desarollo de Concesiones Aeroportuaris since 2003.

GAP’s Chief Executive Officer, Raul Revuelta Musalem, said his company welcomed the opportunity afforded to manage the NMIA’s operations.

“You can be assured that the group I represent will contribute to the achievement of Jamaica’s Vision 2030 [of] transforming the country into the place of choice to live, work, raise families, and do business,” he added.

GAP has concession management agreements, some totaling 50 years, for 13 airports in Mexico.

Views: 1106

Comment

You need to be a member of CaribbeanFever / FeverEyes / CaribFever to add comments!

Join CaribbeanFever / FeverEyes / CaribFever

Comment by Fang on October 14, 2018 at 1:44pm

Andrew Holness standing in the back looking like the sellout he is, now Jamaica going to be flooded with a lot of these damn Mexican, more drugs and a lot more. Jamaicans are going to be second class citizens in our own Island. DAMN SHAME.

Comment by El-Bull on October 12, 2018 at 11:07pm

James Waldenvaughn mitchell First the Chinese and now the Mexicans-------whose next?

Comment by James Walden on October 12, 2018 at 1:58pm
Selling the soul of other and your soul to the devil.....GOD HELP AND FORGIVE YOU....
Comment by vaughn mitchell on October 11, 2018 at 10:35pm
F****** sellouts
Comment by El-Bull on October 11, 2018 at 9:30pm

Nas: 'Prince Wouldn't Record With Me Because I Didn't Own My Masters'

Nas Speaks Out On Promoter's Kidnapping In Angola "He Was In Some Crazy Danger In Africa, So He Threw Me Under The Bus" [Video]

Nas: 'Prince Wouldn't Record With Me Because I Didn't Own My Masters'

Mom: Future Allegedly Forced Blac Chyna To Get ABORTION

Black Chyna's New Reality Show Looks Terrible {VIDEO}
Mom: Future Allegedly Forced Blac Chyna To Get ABORTION!!

Jeff Epstein Tried To HANG HIMSELF In Jail

Jeffrey Epstein is denied bail and ordered back to prison ahead of sex trafficking trial as judge cites the testimony of pedophile's victims in decision, calling him a 'danger to community' Jeff Epstein Tried To HANG HIMSELF In Jail

R&B singer Ciara Shows Off Her Amazing LEG MUSCLES

Ciara & Russell Wilson Launch Reality Show!!! (Exclusive Details) R&B singer Ciara Shows Off Her Amazing LEG MUSCLES!!

+++++++++++++++++++++

Celebrate your BIRTHDAY with CaribbeanFever on 107.5 WBLS, NY

|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||

||||||||||||||||||||||||||||||||||||||||||||||||||||||||||

||||||||||||||||||||||||||||||||||||||||||||||||||||||||||

FOR ALL YOUR DANCEHALL AND REGGAE NEWS CLICK PIC BELOWreggae dancehall queen 4

}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}

{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{

PUMP IT! or DUMP IT! SAT & SUN NIGHT on Caribbean Fever 107.5 WBLS NY (GET YOUR NEW MUSIC PLAYED) SONG{S} BEING VOTED ON ARE {------ ) and {----- }

CARIBBEAN NEWS

Caribbean Fever with the best Caribbean News online!

 

SOME TOP BLOGS

Groups

© 2019   Created by Caribbean Fever.   Powered by

Badges  |  Report an Issue  |  Terms of Service