The divestment of Norman Manley International Airport (NMIA) has moved a step closer to completion with a Mexican company winning the bid.
Grupo Aeroportuario del Pacifico has emerged as the provisional Preferred Bidder.
The decision follows the evaluation process and subsequent approval by Cabinet last week Monday after the public opening of three bid submissions received by the Development Bank of Jamaica in July.
In addition to the bid from the Mexican company, two were received from groups which comprised foreign and local investors.
On conclusion of the agreement with the provisional Preferred Bidder, NMIA will be operated under a 25-year concession with an option to extend the arrangements by an additional five years.
During this period, the private operator will be responsible for fully operating NMIA and improving the efficiency of both landside and airside operations, financing and completing the planned modernisation and expansion and maintaining and upgrading the facilities of the Airport.
The Government of Jamaica anticipates the execution of the concession agreement by November 2018.