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OMA to invest US$83mn during 2011 (Mexico)

Mexican airport operator OMA (Nasdaq: OMAB, BMV: OMA) plans to invest some 1bn pesos (US$82.6mn) during 2011, according to CFO José Luis Guerrero.

"For this year we have approved for our master development plan of 536mn pesos of capex investment, plus an additional 400mn pesos for the baggage screening machines project and roughly about 17mn [pesos] for OMA cargo expansion," Guerrero said in a conference call.

OMA's five-year master development plan calls for a total investment of 2.75bn pesos, of which 82.5% will be spent to meet the standards of concession contracts, which includes maintenance and safety, Guerrero added.

The airport operator spent 498mn pesos during 2010, mostly on phase I of its advanced baggage handling system, which was financed by a long term-loan from UPS Business Capital Credit.

The firm expects the new equipment to be operational at most of its airports by 2H11, Guerrero said.

OMA operates airports in Monterrey, Acapulco, Zihuatanejo, Mazatlán, Culiacán, Ciudad Juárez, Chihuahua, Tampico, Reynosa, Torreón, Zacatecas, Durango and San Luis Potosí.

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