The Jamaica Government has divested the operation of the Norman Manley International Airport (NMIA) to Mexican entity, Grupo Aeroportuario del Pacifico S.A.B. De C.V. (GAP).
A 25-year concession agreement was signed yesterday at the Office of the Prime Minister by Chairman of the Airports Authority of Jamaica, which owns the Norman Manley International Airport.
According to the Jamaica Gleaner, the formalities were witnessed by Prime Minister Andrew Holness and Transport and Mining Minister, Robert Montague.
Under the agreement, GAP will be responsible for improving the airport’s land and air operational efficiency, and financing and completing a modernisation programme, at an estimated cost of over US$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.