Jamaica’s Logistics Hub continues to take flight
Sangster International Airport continues with expansion projects during Covid -19 pandemic
Sangster International Airport (SIA ), Jamaica’s largest and busiest airport nestled in the heart of the nation’s tourism hub Montego Bay, is set to move full steam ahead with expansion and upgrading plans.
This is good news for Jamaica continued transformation into a logistics centred economy. The airport, operated by MBJ Airports Limited under a concession agreement with the Government of Jamaica (GOJ)is a subsidy of Mexico’s Grupo Aeroportuario del Pacífico(GAP).
Sangster International Airport (SIA) is from all accounts the Caribbean’s leading airport and is critically a key pillar in Jamaica’s Logistics Hub Initiative. Receiving over 4.7 million passengers in 2019 SIA is a key access point to Jamaica and is a significant economic driver and logistics support for the tourism sector. The airport contributed over US$230 million directly to the economy of Jamaica and employs over 7,000 people.
Pre Covid-19 GAP was very bullish on Jamaica.
In addition to its work through its subsidiary MBJ Airports Limited, it took up operating Jamaica second largest airport, Norman Manley International Airport, in late 2019 under a 25 year concession with the GOJ, signed in October 2018. One of the company’s commitments is to improve the infrastructure and equipment of the airport announcing that during the first 36 months of its operation, it will invest USD$60 million to achieve these aims.
And its would seem that this confidence in Jamaica remains.
Recently MBJ Airports Limited secured a US$60 million loan from Scotiabank to be used to towards upgrade SIA. These upgrades include the expansion of the departures retail area, a major upgrade of the airport’s HVAC system and a 1 megawatt solar PV system which will help to reduce energy, a major operating costs, and decrease the airport carbon footprint.
This investment augurs well for Jamaica as we continue our transformation into a logistics centred economy.
MBJ Airports Limited shows why logistics matters Jamaica.
