Following in the footsteps of NAIM, this week Gerardo Ruiz Esparza, Minister of Communications and Transport announced a Fibra E will be launched within the next few months for the fuel storage assets belonging to airport group ASA. This move is a further sign that renewed efforts are being made to eliminate monopolies and increase competition in the wake of the Energy Reform.
According to Alfonso Sarabia de la Garza, Director General of ASA, the funds will be used to “modernize the infrastructure and open it to private investment.” He said that 60 storage facilities and two supply points will be up for grabs but expected investment level has not yet been estimated.
At the moment, aviation fuel supply is divided between PEMEX and ASA. This move comes in response to competition authority COFECE having asked SCT in March to eliminate ASA’s monopoly over jet fuel storage, commercialization and expenditure.
On Wednesday, Ruiz Esparza explained that ASA had achieved record sales by the end of 2017. “ASA sold 4.8 billion liters of jet fuel, which is equivalent to selling 13 million liters a day,” he said.
On March 26, NAIM launched its first Fibra E on the Mexican Stock Exchange (BMV) for MX$30 billion. MX$13.5 million was received from Afores Inbursa, Pensionissste, Profuturo and Afore XXI Banorte, making up 0.9 percent of the total funds received.
SCT’s efforts to improve airport infrastructure comes amid criticism by the International Air Transport Agency (IATA) that Mexico’s current airport infrastructure is preventing the country’s economic growth. IATA’s report showed that Mexico is trailing behind other countries with much smaller markets, including Panama, the Dominican Republic, Colombia, Peru, and Chile.