Tue | Nov 21, 2017

Gov't makes another attempt to divest NMIA

Published:Saturday | October 29, 2016 | 9:35 AM

The Government has approved a new Public-Private Partnership (PPP) tender for the Norman Manley International Airport (NMIA) as it makes another attempt to divest the entity.

The Government says it is committed to partnering with an experienced private sector investor with proven experience in the aviation sector to operate, finance, develop and maintain the NMIA under a long term concession agreement.

An invitation for prequalification applications is expected to be launched by early December 2016.

The development Bank of Jamaica says the project will be presented at the Global Airport Development conference in Lisbon, Portugal, on November 30.

Representatives from the government and transaction team are expected to be available for individual meetings with investors at the conference.

The government has been trying to divest the Norman Manley airport for several years but there have been no takers.

The previous tender process, launched in December 2014, was terminated.

In 2015, the government shortlisted five entities but no bids were received at the close of the bidding period, even though the process had already cost tax payers US$1 million.