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OMA Announces Master Development Program Investments And Maximum Rates For Its Airports For 2011-15

  • Master Development Program Investments for Next Five Years Total Ps. 2,745.2 Million

MONTERREY, Mexico, Dec. 29, 2010 (GLOBE NEWSWIRE) -- Mexican airport operator Grupo Aeroportuario del Centro Norte, S.A.B. de C.V., known as OMA (Nasdaq:OMAB) (BMV:OMA), announced that it has received approval for its Master Development Program (MDP) and maximum rates for each of its airport concessionaires for the period 2011-2015 from the Ministry of Communications and Transportation (SCT), through the General Directorate for Civil Aviation (DGAC).

The Master Development Program (MDP) for each airport includes the investments that OMA is committed to make during the next five years in order to expand airport infrastructure in keeping with expected traffic growth, modernize facilities, and to maintain the airports in accordance with domestic and international operating, safety, and security standards.

The MDP investments for the 13 airports for the period 2011-15 total Ps. 2,745.2 million, in constant pesos of December 31, 2009. Investments to meet the standards of the concession agreement, maintenance, and operational safety represent 82.5% of the five-year total. An additional Ps. 404.3 million will be invested in airport security improvements, of which 70% will be carried out in the first two years. The new MDP also includes the creation of a land reserve for the Monterrey airport, in order to ensure the future growth capacity of this airport.

The following table summarizes, in millions of pesos, the MDP investments by airport for the next five years.

Airport 2011 2012 2013 2014 2015 2011-2015
Acapulco 27.0 52.6 50.6 102.2 27.9 260.4
Ciudad Juarez 15.7 32.6 78.2 17.1 13.9 157.5
Chihuahua 21.4 32.6 48.8 12.9 9.4 125.0
Culiacan 48.3 48.9 80.6 62.8 48.6 289.1*
Durango 32.8 19.9 10.7 19.4 3.4 86.2
Monterrey 238.3 79.9 215.4 218.8 104.4 856.8**
Mazatlan 17.5 25.0 43.7 90.8 25.4 202.4
Reynosa 29.6 34.4 31.0 22.5 5.6 123.1
San Luis Potosi 17.3 18.6 49.1 45.0 37.4 167.4
Tampico 28.5 41.3 40.0 15.7 12.0 137.5
Torreon 27.9 12.1 31.7 22.4 3.8 97.9
Zacatecas 16.2 34.7 23.3 9.3 10.2 93.7
Zihuatanejo 15.8 41.1 23.2 44.0 24.1 148.2
Total 536.3 473.8 726.2 683.1 325.8 2,745.2
In millions of constant pesos of December 31, 2009
* Includes Ps. 22.9 million already invested in operational safety
** Includes Ps. 77.3 million already invested in land reserves

Investments included in the MDP are expected to be recovered through revenues generated from aeronautical services. OMA's revenues from aeronautical services are subject to a price regulation system established in the concession agreements with the SCT. This price regulation system establishes a "maximum rate" for each airport for each year in a five-year period. The maximum rate is the maximum amount of revenues per workload unit (one terminal passenger or 100 kg of cargo) that may be earned at an airport each year from regulated revenue sources. The maximum rate is calculated based on the 2011-15 MDP projections as approved (capital expenditures and operating costs and expenses), as well as other parameters including the reference value, discount rate, efficiency factor, and expected workload units.

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