Guadalajara, Jalisco, Mexico – Airport operator Grupo Aeroportuario del Pacífico (GAP) will invest 24bn pesos (US$1.2bn) to expand 12 Mexican airports in the next five years.
The investors group will allocate 7 billion pesos in 2020 to begin some projects and spend the remaining amount over the next four years, GAP board president Laura Diez Barroso Azcárraga said last week at a press conference.
“In general terms, all our airports will grow their capacity to serve passengers and operations. By 2024, we will have increased the square meters of terminal buildings that GAP operates today by more than 60 percent,” she said.
She added that “we are an ally of the authorities in their growth strategy and of the entrepreneurs who bet on Mexico.”
The investment is part of the first stage of the 2019-24 national infrastructure program (PNI) that was announced in late November by government officials and private sector leaders.
In this first stage 42 billion pesos from the private sector would be allocated to upgrade over 20 airports across the country. Participants were not known when the program was presented but are now making announcements.
For example, airport management company Grupo Aeroportuario del Sureste (Asur), said earlier this month that it would invest 2.5bn pesos to expand the international airport of Mérida in Yucatán state. The investment will increase capacity from 2mn passengers a year to 4.7mn, according to Asur.
GAP currently holds 50-year concessions to manage international airports in Guadalajara, Jalisco and Tijuana, Baja California. It also has contracts for airports in cities such as Mexicali, Hermosillo, Los Mochis, Aguascalientes, Guanajuato and Morelia, and in tourist destinations such as Los Cabos, La Paz, Puerto Vallarta and Manzanillo.
Among the most important projects is a new terminal at the Guadalajara airport. The expansion includes doubling the airport’s existing facilities and potentially adding a second runway.
Also in Jalisco state, GAP will build a terminal building with more than 35,000m2 that will add eight boarding points to the Puerto Vallarta airport.
At Tijuana airport, the group will construct a building to process international passengers. The building will be an extension of the Cross Border Xpress, the world’s first binational airport terminal connecting Tijuana & San Diego.
And the two terminals at Los Cabos airport in Baja California Sur state will get a second runway, GAP representatives said.
GAP will invest 1.5bn pesos more in the next 20 months to build hotels close to the Guadalajara and Tijuana airports, GAP general director Raúl Revuelta said at the conference.
Under stage one of the PNI, Guadalajara international airport will receive a 10.5bn-peso investment, the highest for an airport under the program.
Meanwhile, Puerta Vallarta airport, Tijuana international airport and Los Cabos airport will receive 3.7bn pesos, 3.4bn pesos and 2.9bn pesos, respectively.
The remaining 29 airport projects on the government’s agenda will receive investments below 2.5bn pesos.