Grupo Aeroportuario de la Ciudad de México (GACM) is a state-owned holding that controls Aeropuerto Internacional de la Ciudad de Mexico (AICM), which holds the concession to operate Mexico city's international airport, and Servicios Aeroportuarios de la Ciudad de México, the company that provides administrative services to each member of the group. GACM is also involved in the development of Mexico City's new international airport (NAICM), a project that aims to ease saturation at the current facilities. The new airport infrastructure will require the investment of 169bn pesos (US$11bn). Of this amount, 127bn pesos will be invested in infrastructure works, 16.4bn pesos in water works, 20bn pesos for design, engineering and project management, and 1.7bn pesos for social works. It will be developed in two phases and it has a completion date of 2020. The company is currently in the process of preparing tenders for this project.