Real cost the cancellation of the New Mexico City Airport is revealed.

The Superior Audit Office of the Mexican Federation (ASF) has estimated the cost of the cancellation of the New Mexico City International Airport (NAICM) at 331,996,517.6 pesos (about 13.4 million euros), far from the 100 million pesos (4 million euros) estimated by the Federal Government. The cancellation of the NAICM was one of the first measures adopted by Mexican President Andrés Manuel López Obrador after taking office.

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“It was identified that the total cost of the cancellation of the NAICM estimated by the ASF of 331,996 million pesos, is higher than the cost of 100 billion pesos calculated by the Ministry of Communications and Transport in the document ‘Reasons for the cancellation of the New Airport Project in Texcoco’ published on April 26, 2019,” explains the ASF document delivered to the Oversight Committee of the Chamber of Deputies and collected by the Mexican newspaper ‘La Jornada’.

In addition, the ASF warns that the total cost of the NAICM cancellation could increase due to factors such as the settlement of pending contracts and the lawsuits and claims filed.

49.3 percent of this cost is due to non-recoverable expenses of the investment and the early termination of contracts and agreements for works, acquisitions and services. They also include costs arising from the financing scheme for the construction of the project and legal costs arising from the cancellation of the project.

The remaining 50.7 percent corresponds to additional costs arising from outstanding obligations for the cancellation, such as the settlement of all bonds issued, contracts pending settlement, as well as lawsuits and claims in process.

The cancellation of the NAICM was decided after a popular consultation and with López Obrador pointing out the excessive cost of building an airport in Texcoco. The most voted option in the vote was to seek an alternative, which resulted in the construction of two new runways at the Santa Lucia military base and to refurbish the existing Mexico City airport and the one in the nearby city of Toluca.

By Notimérica

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