Confidence In Jamaica Leads to Investments – GAP
January 7, 2020
Confidence In Jamaica Leads to Investments – GAP
January 7, 2020
Minister of Transport and Mining, Hon. Robert Montague (second right), symbolically hands over the key to the Norman Manley International Airport (NMIA) to CEO of Grupo Aeroportuario del Pacifico (GAP), Mr. Raul Revuelta (second left) , last October. GAP has taken over the operations of the airport under a 25-year concession agreement, through its local subsidiary, PAC Kingston Airports Limited (PACKAL). Sharing the moment (from left) are: CEO of Airports Authority of Jamaica (AAJ), Audley Deidrick and AAJ Chairman, William Shagoury.
Mexican company, Grupo Aeroportuario del Pacifico (GAP), says the level of investments made in Jamaica is indicative of its belief in Jamaica and the country’s prospects for growth.
The firm officially took over management of the Norman Manley International Airport (NMIA) last October, through its local subsidiary, PAC Kingston Airport Limited (PACKAL), under a 25-year concession agreement.
Chief Executive Officer (CEO) of GAP, Raul Revuelta, said 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,” he said. “That is something really great to celebrate.
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,” Mr. Revuelta said.
GAP has committed to invest 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.
Mr. Revuelta, who is also Chairman of PACKAL, said that “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.”
Meanwhile, Minister of Transport and Mining, Hon. Robert Montague, said that GAP has already achieved some successes in its 16 years of running the Sangster International Airport (SIA), in Montego Bay, having made it the number one airport in the Caribbean.
He also argued 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.
Source: The Jamaica Information Service (JIS)