Sangster International Airport

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The government of Jamaica awarded a 30-year contract to consortium Montego Bay Jamaica (MBJ) Airports Ltd. to operate, expand, and rehabilitate the Sangster International Airport. The consortium's committed US$200 million was to be for the operation in addition to terminal expansion and other facilities. The terminal was to be expanded from 25,000 squre meters to 60,000 square meters. In addition to expanding the terminal, the consortium was also responsible for operating the airport and its commercial services. The consortium was to pay a three-tier lease fee to the government; the fee was based on the number of airport passengers and cargo throughput and pre-determined percentages of excess operator returns. The Sangster airport served Montego Bay; in 2003 it served approximately 3 million customers. The airport was one of two international airports in Jamaica (the Kingston international airport was the other). The conortium was to expand the capacity from 3 million (2003) to 6 million by 2013. An "airport improvement fee" was to be levied on each departing passenger to pay for part of the capital expenses. MBJ Airports comprised Spain's Dragados Group (part of ACS Group), Canada's Vancouver International Airport Authority (YVRAS), Chile's port services company Agencias Universales (Agunsa), and Israeli construction company Ashtrom. The IFC's total US$45 million assistance in 2003 contributed to financing the first phase of the airport investments. In September 2006, Agunsa sold its 35% stake to ACS Group’s subsidiary Dragados for US $37 million, increasing ACS Group’s stake to 70%. Ashtrom Group and Vancouver International Airport retained their 15% stake in the project. In September 2007, Abertis Infraestructuras SA acquired for US $381 million ACS's airport concession arm DCA (Dragados). IFC and First Caribbean International Bank invested US$15 million to resurface Sangster International Airport’s single runway and support other safety upgrades, such as the construction of a new fire hall (IFC 7.5 million). Work on the 2.6-kilometer runway was underway at the end of 2013 and was planned to allow for smoother and safer landings in Montego Bay, which received twice as many passengers as Kingston. IFC made four investments in the airport since 2003 for a total of US$105 million, including US$53.5 million mobilized from other investors. IFC provided MBJ with A and B loans to finance the construction of a new terminal in 2003, the refurbishment of the original terminal buildings in 2005, and check-in related equipment in 2008. In April 2015, Abertis sold its stake in the project to the Mexican company Grupo Aeroportuario del Pacifico (a partnership of Corporacion Mexicana de Aeropuertos (CMA) - 10%; the Spanish company AENA - 5%; and small investors - 85%). Sponsors: www.agunsa.com; Ashtrom Group (10 Kremenetski St. Tel Aviv 67899,Israel,Phone: 972-3-623-1212); Sangster International Airport contacts: Phone 876-952-2712, fax: 876-952-6172, aaj@cwjaimca.com, Antonio Garcia Ferrer (Chairman), J. Alvarez Lopez (COO - Concessions)