May 17, 2021

The construction of the New Mexico Airport will continue to review the project

The construction of the New Mexico Airport will continue to review the project



The construction of the New Mexico International Airport (NAIM) will continue to revise the project, progress and negotiate with creditors and investors debt bonds, the Board of Directors of the Airport Group of Mexico City (GACM) informed today.

The new air terminal and main work of former President Enrique Peña Nieto, who left office last Friday, had been canceled through a consultation promoted by the new Government of Mexico, led by the now president Andrés Manuel López Obrador at the end of October.

It was also announced that the new general director of the GACM will be Gerardo Ferrando, who asked for authorization.

"The objective is to evaluate the strategic plan of the NAIM project, the result of which will be presented in the coming weeks," said the minutes of the Board of Directors.

"Work will continue on the project during this process, and the intention is to evaluate the strategic plan to make decisions on the actions to be taken and, if necessary, to update the Institutional Strategic Program of the NAIM," the text added.

In the document it was noted that after the announcement of the cancellation of the NAIM, which was determined through a citizen consultation at the end of October, "a period of uncertainty that caused suffering" began to the bonds issued to finance the project.

"This increased in the absence of an official position by the outgoing authorities," the minutes read.

It was explained that in total, four bonds totaling 6,000 million dollars were issued.

These bonds were issued under New York law and its most serious risk is the cancellation of the NAIM, it was explained and that is why "it is necessary to take immediate measures to mitigate the risks".

One is that on Monday at 7:00 am in New York will be issued a bid for up to $ 1.8 trillion of bonds.

In this way "It covers the information gap, with a very specific action and gives certainty to investors," the text concluded.

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