Kingston’s Norman Manley International airport closer to divestiture

The privatization of Jamaica’s Norman Manley International Airport (NMIA) is scheduled to be completed by June 2019, reported Audley Deidrick, the President and CEO of the Airports Authority of Jamaica and NMIA Airports Ltd. last week.

Eight bidders were prequalified for the transaction earlier this year. Five of the eight bidders went through a series of presentations, and voiced concerns and suggestions. According to Jamaican media, Deidrick said that the final draft of the concession agreement is being vetted and will be sent back to the bidders after review by the enterprise team, the lenders and the Cabinet.

The bid launch is scheduled to take place in February of 2018, with a 30-day turnaround. The government should announce the winner within a month of receiving the bids, and plans to close on the commercial aspects by June. The financial closure should take place by June 2019, Deidrick told Jamaica Information Service.

The chosen concessionaire will have a mandate to undertake a major capital expansion program at the airport, which includes extension of the runway and improvement to the airside and other terminal facilities.

The winning bidder will need to demonstrate financial strength to expand and operate the facility, technical competence, and airport operating competence and expertise.

Travel Markets Insider © 2017