Confidence In Jamaica Leads to Investments – GAP

• Mexican company, Grupo Aeroportuario del Pacifico (GAP), says the level of investments made in Jamaica is indicative of its belief in Jamaica and the country’s prospects for growth.

• The firm officially took over management of the Norman Manley International Airport (NMIA) last October, through its local subsidiary, PAC Kingston Airport Limited (PACKAL), under a 25-year concession agreement.
• Chief Executive Officer (CEO) of GAP, Raul Revuelta, said the investment decision rested heavily on the strides that Jamaica has been making.
• “It is completely related to what we believe about the future of Jamaica. We really believe in what is coming. We know that Jamaica has the lowest inflation rate, the lowest interest rate, and the lowest unemployment rate in its history,” he said. “That is something really great to celebrate.
• GAP has committed to invest US$60Mn in the development of the airport during the first three years of operation, under a modernisation plan that is expected to cost more than US$100Mn.

(Source: JIS