Saturday 22 September, 2018

Gov't aims to divest interest in Norman Manley Airport, JPS

In 2016, the government appointed an enterprise team to examine the operations of the airport. That team recommended the divestment of the NMIA given the significant state funds and resources required for the optimal operation of the airport.

“The government will therefore move to divest NMIA this year in keeping with its public sector transformation agenda,” said Governor-General Sir Patrick Allen in his Throne Speech Thursday at the ceremonial opening of Parliament.

Additionally, the government will this year begin the process of privatising its remaining shareholding in the JPS, Allen said. The Government of Jamaica owns 19.9 per cent shares in JPS.

Allen added: “The government will take steps to ensure that there is broad retail, institutional participation and Jamaican owners in the divestment process.”

He said that an enterprise team will be appointed to lead the process.

The previous government had tried offloading the airport in 2015 but none of the entities pre-qualified during the divestment process made a bid.

Pre-qualified were: Cedicor SA (Aeropuertos Argentina 2000 SA), Zurich Airport International AG, A-Port Chile SA, Korea Airport Corporation Latin America, GK Capital Management Ltd, China Harbour Engineering Company Ltd, DAA International Ltd, Corporación Aeroportuaria del Este SAS (Punta Cana International Airport), Jamaica Producers Group Limited, and GBG Energy S de RL.