Set to be named the Efrain Guerrero International Airport, it will be Belize’s second international airport.
During the one-year period of the MoU, International Airport Alliance Belize will finalise logistics in terms of land, finances and environmental assessments.
The scope of the proposed project includes a terminal building, a runway, a taxiway and an apron. Once operational, the airport is expected to create approximately 181 jobs.
As well as providing long-term socio-economic benefits to Belize, the airport is expected to boost direct tourism arrivals to San Pedro on the island of Ambergris Caye.
Belize Minister of State for Trade Tracy Taegar-Panton told 7News Belize: “There is still some work to do in terms of the commitment and the arrangements for the land and that sort of thing.”
Taegar-Panton added that the MoU is in effect for another year and the government hopes to complete all due diligence for the project and then begin the construction phase.