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The five teams are the following:
The government expects to launch the request for proposals (RFP) in June this year.
International Finance Corporation (IFC), a member of the World Bank Group, is advising the GOJ as lead advisor on the structuring and implementation of the project. The Development Bank of Jamaica (DBJ), the GOJ's Privatization Agency and PPP Unit are co-advisors and secretariat for the transaction.
The winning bidder will complete the modernization of NMIA envisaged by Airports Authority of Jamaica (AAJ) and improve its efficiency under a new long term concession arrangement. The existing concession contract will be terminated and replaced by a new concession contract between AAJ, as grantor, and the winning bidder.
The project involves the development, finance, operate and maintain of the airport. The GOJ's key objectives include:
NMIA is currently operated under a 30-year concession agreement signed in 2003 between NMIA Airports Ltd., the current concessionaire, and AAJ. During the same period, AAJ also initiated a 20-year master plan to upgrade and expand NMIA. The first master plan was prepared in 2004 and was updated in 2013. To date, AAJ has invested approximately US$142 million in the upgrading of NMIA, including construction of a new departure terminal, a cargo terminal, and airside improvements.
The airport is located on the Palisadoes tombolo in outer Kingston Harbour; it fronts the city on one side and the Caribbean Sea on the other. There are over 130 international flights a week that depart from the airport.
We have recently reported about several airport PPP projects globally: