Mexican airport operator GAP announced on Tuesday a 52-billion-peso ($2.53 billion) investment spread over five years as part of a development plan to bolster economic growth and support the country's key tourism sector.
GAP manages twelve airports in Mexico, including Puerto Vallarta and Los Cabos, popular destinations for international visitors.
The plan includes constructing a new airport terminal in Guadalajara and additional roadway improvements for airport connectivity. Additionally, a new terminal at the Puerto Vallarta airport aims to double its capacity.
Expansion projects are also planned for terminals in Tijuana and Los Cabos, with an overall goal of increasing capacity across GAP's Mexican airports by 50%.
GAP operates facilities in Jamaica, such as Montego Bay, but the company's statement did not specify any new investments in its Caribbean operations.
(Exchange rate: $1 = 20.5420 Mexican pesos)