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Cancelling Mexico City airport would cost $5 billion USD say analysts

Mexico City, Mexico — Analysts say to cancel the new International Airport in Mexico City would cost more than $5 million USD.

The team of president-elect Andrés Manuel López Obrador, says halting the construction of the new International Airport of Mexico (NAIM) would mean losing $5 billion USD already invested in the project.

His technical team explained that the cost of cancellation is divided into 60 billion peso (about $3.1 billion USD) in work already complete and another 40 billion peso ($2.1 billion USD) for non-recoverable expenses.

They explained the two options, being the construction of the airport in Texcoco (State of Mexico) or the transformation of the military airport at Santa Lucia into a civil aerodrome. A larger facility is required in order to lighten the air traffic of the congested capital airport.

In order to determine the best option, a public consultation will be held during the last week of October with specialists of the business and civil sectors.

The construction of the new airport in Mexico is one of the large projects of the current administration of Enrique Peña Nieto, a project that has received much criticism. López Obrador has already vowed a complete analysis of the contract and environmental impact of the project.

Although Peña Nieto says the new airport project has an approximate cost of $13 billion USD, López Obrador says the true figure is closer to $15.7 billion USD.

“The possibility of concessioning part or all of the airport in Texcoco has not been ruled out since resources will be needed so that it does not cost the treasury,” López Obrador said at a press conference.

Mexico City’s new International Airport was announced in the State of the Union address of Mexican president Enrique Peña Nieto on September 2, 2014 and is the largest public infrastructure work in a century.