No bidders for Norman Manley airport privatisation
The bidding period for the Norman Manley International Airport in Kingston has closed with no takers despite the government announcing earlier this year that five major local and international companies had been shortlisted to bid to take over the operations of the facility.
In April, Transport Minister Dr Omar Davies announced that the companies, including the Jamaica Producers’ Group, Korea Airport Corporation Latin America and GK Capital Management Limited had been shortlisted, following a prequalification exercise.
Following the announcement, several members of the private sector praised the development which they said indicated the high level of confidence in the economy.
However, today the Airports Authority of Jamaica disclosed that no bids had been received by the December 30, 2015 cut off date.
It’s uncertain why the five shortlisted companies failed to submit bids.
However, Chairman of the Enterprise Team for the privatisation, Michael McMorris says the government engaged in a robust bidding process which utilised the services of the International Finance Corporation as lead advisors for the transaction, and the Development Bank of Jamaica as the Public Private Partnership Secretariat.
With the bidding process now closed, the Enterprise Team is to make recommendations to the Transport Minister.
The recommendations will then be submitted to the Cabinet for deliberations.