KINGSTON, Jamaica — As the Government seeks to get the Norman Manley International Airport off its books in the 2017/18 fiscal year, the privatisation bid for the airport has been further extended to May 1, 2017.

The Government, through the Ministry of Transport and Mining, is seeking a private sector entity to operate, finance, and develop the NMIA under a long-term concession agreement. The selected party is expected to complete the modernisation of the airport, which is the second largest in Jamaica.

The Enterprise Team, which was set up to examine the operations of the airport recommended the divestment in light of the significant State funding and resources being expended to run the airport.

The extension comes after previous tender for bids in 2015 and earlier this month were unsuccessful since none of the entities that pre-qualified during the divestment process actually submitted a bid.

The pre-qualified entities included China Harbour Engineering Company, Jamaica Producers Group Limited, Cedicor SA (Aeropuertos Argentina 2000 SA), A-Port Chile SA, Korea Airport Corporation Latin America, Zurich Airport International AG, GK Capital Management, GBG Energy S de RL, DAA International Ltd, and Corporación Aeroportuaria del Este SAS (Punta Cana International Airport).

Now, the Development Bank of Jamaica, through a new Public-Private Partnership Unit with the International Finance Corporation — a member of the World Bank Group — as its lead advisor has restructured the transaction.

The NMIA is owned by the Airports Authority of Jamaica and operated through its subsidiary, NMIA Airports Limited.