KINGSTON, Jamaica, Monday, January 6, 2020 (CMC) –Mexico-based Grupo Aeroportuario del Pacifico (GAP), which formally took over the management of the Norman Manley International Airport (NMIA) last October, through its local subsidiary, PAC Kingston Airport Limited (PACKAL), says the investment decision rested heavily on the strides that Jamaica has been making.
“It is completely related to what we believe about the future of Jamaica. We really believe in what is coming. We know that Jamaica has the lowest inflation rate, the lowest interest rate, and the lowest unemployment rate in its history,” said GAP Chief Executive Officer, Raul Revuelta.
“That is one of the key factors why we are here, and we are committed to this big investment. We believe in Jamaica, we are here for the long term and, more important of all, we are allies for the great things to come to this country,” Revuelta said.
GAP, which has a 25-year concession agreement with the airport, said it is committed to investing US$60 million in the development of the airport during the first three years of operation, under a modernisation plan that is expected to cost more than US$100 million.
Revuelta, who is also PACKAL Chairman, said “We will take care of this airport as part of our family, and we are pretty sure that with the support of the talented people who work there, we will have great success.”
Transport and Mining Minister, Robert Montague, said that GAP has already achieved some successes in its 16 years of running the Sangster International Airport (SIA), in Montego Bay.
He said that GAP made the right choice and that the NMIA would become the “pearl in their portfolio”, based on its scope for growth and their marketing prowess.
GAP currently operates 14 airports, 12 of which are located in Mexico.