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Runway 2 Winner Bidding for More Tenders

Héctor Ovalle - COCONAL
President

STORY INLINE POST

Wed, 11/01/2017 - 14:18

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Q: What strategies are you implementing to deliver NAICM’s second runway on time?

A: We are focusing on initial comprehensive strategic planning. For example, before we started bidding, we carried out a market study to understand where the required materials were most abundant and bought four materials banks. We have worked in AICM for many years, so we know how vital the materials are, as they account for about 50-70 percent of the construction’s total value. We have made significant advances due to our strategic planning, and we already have everything in place to ensure completion of the runway by November 2018. As we speak, 2.5km out of the 5km runway is preloaded. In short, our strategy is basically to negotiate, plan, work with qualified personnel and exploit our own quarries. We have already signed a contract with CEMEX for the cement, as well as with our paving provider, so when it is time to carry out the work, we have all the components in place to allow us to complete our part of the project on time and on budget.

Q: What financial strategies are you using to finance the project?

A: Our credit strategy involves working with three commercial banks. We are billing MX$500 million monthly and we have also financed a total of approximately MX$1.5 billion. Banorte, Banamex and Santander all provided special credit lines for the project. We also monetized a portion of our investment portfolio. Our liquidity today is limited, which is unusual for us. But we are not concerned because once the airport is finished and we begin to reap the financial returns, our margins will be restored to full health.

Q: Where do you expect the construction for the second NAICM’s runway will lead the company?

A: Our goal is to win the construction for Runway 6, which is under military control. Also, we want to take part in the bidding rounds for several of NAICM’s commercial platforms. This part of the project will be tendered soon. Likewise, other constructions for airport access and part of the underground drainage system remain available. The whole project implies the development of 10km of road infrastructure in order to guarantee end users that the new location will be easily accessible. COCONAL wants to take part in this as well.

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