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Medellin-based multinational banking giant Bancolombia reported February 22 a that its full-year 2021 net income jumped 31% year-on-year, to COP$4.1 trillion (US$1.04 billion).

Fourth-quarter (4Q) 2021 net income soared to COP$1.44 trillion (US$365 million), up from a COP$266 billion (US$67 million) net loss in 4Q 2020.

Annualized return on equity (ROE) for full-year 2021 was 14%, while gross loans grew 15.1%, to COP$220 trillion (US$55.8 billion) – even up 9.6% once excluding currency-exchange effects.

In Colombia, the loan portfolio grew 11.7% year-on-year, “largely explained by the performance in the second half. Retail and mortgages gained share during the year within the consolidated loan book, representing 22% and 14% respectively,” according to Bancolombia.

Meanwhile, “30-day past-due loans were 4.05% [of the total book], a gradual reduction based on better asset quality, lower deterioration, and the growth in charge-offs during 2021. Charge-offs grew 86%, mainly explained by run-offs covered under relief” provisions, according to Bancolombia.

Loan provision charges for 4Q 2021 dropped 67.8% year-on-year, to COP$2.4 trillion (US$609 million), “primarily due to macroeconomic improvements, as well as a better performance of customers,” according to the company.

Shareholders' equity rose 21% year-on-year, to COP$32.2 trillion (US$8.1 billion), “largely explained by the generation of profits during the year,” according to the company.

As for electronic banking, “Bancolombia has made a significant progress in its digital strategy during 2021. The bank has 6.5 million active digital clients in the mobile retail app, as well as 15.9 million accounts in its financial inclusion platforms -- 5.9 million users in ‘Bancolombia a la Mano’ and 10 million in ‘Nequi,’” according to the company.

Colombia’s Rebound Key

Loans in Colombia grew 3.9% in 4Q 2021 versus 3Q 2021, and also rose 11.7% year-on-year, according to the company.

The improvements came “as an effect of the economic reactivation in the country,” thanks to Colombia’s record-setting 10.6% growth in gross domestic product (“PIB” in Spanish initials) for full-year 2021, Bancolombia noted.

“In balance, the commercial portfolio showed an increase of COP$9.1 trillion [US$2.3 billion], highlighting the good performance of peso-denominated loans and the foreign currency portfolio, which was impacted by the 16% depreciation of the Colombian peso [against the U.S. dollar] during the year.

“Mortgage loans accounted for over 31% of growth for the retail segment, an increase of COP$2.4 trillion [US$609 million], driven by a better dynamic in the real estate business that was reflected in the higher levels of originations during the year,” the company added..

Central America Operations

At the end of 4Q 2021, Banco Agricola operations in El Salvador, Banistmo in Panama and BAM in Guatemala represented 28% of total gross loans, according to Bancolombia.

“Gross loans denominated in currencies other than COP -- generated by operations in Central America, the international operation of Bancolombia Panamá, Puerto Rico and the US dollar-denominated loans in Colombia -- accounted for 35% of the portfolio, and grew 6.8% in the quarter (when expressed in COP),” according to the company.

“BAM in Guatemala reported a growth in its portfolio of 3.2% (calculated in U.S. dollars) largely attributed to the performance on the retail side.

“Banistmo [in Panama] reported an increase of 0.2% (calculated in U.S. dollars), with a positive performance in the commercial portfolio with originations growing during 4Q 2021.

“Lastly, Banco Agricola [El Salvador] reported a contraction of 0.9% during the quarter (calculated in U.S. dollars), basically because of prepayments on the commercial side greater than disbursements,” the company added.


Éxito Full-Year 2021 Profits Double Year-on-Year

Tuesday, 22 February 2022 09:15 Written by

Medellin-based multinational supermarket and dry-goods retailer Grupo Éxito announced February 21 that its full-year 2021 net profit soared by 105% year-on-year, to COP$474 billion (US$120 million).

Operating income for 2021 rose 7.5% year-on-year, to COP$16.9 trillion (US$4.3 billion), “marked by important macroeconomic and operational recoveries” not only in Colombia, but also in Argentina and Uruguay.

In Colombia, sales rose 5.5% year-on-year, to COP$12.3 trillion (US$3.1 billion), “driven by the performance of innovative store formats, omnichannel sales and the recovery of the real estate and financial businesses,” according to Éxito.

Consolidated recurring earnings before interest, taxes, depreciation and amortization (EBITDA) rose 20.7% year-on-year, to COP$1.5 trillion (US$381 million), with an EBITDA margin of 9.1%.

Electronic and direct-delivery channels in Colombia represented 11.9% of sales, totaling COP$1.5 trillion (US$381 million) in 2021, and 9.9% of sales corporate-wide.

“By 2022, the company will continue with the expansion plan for its innovative formats (Éxito Wow, Carulla FreshMarket, Super Inter Vecino, Surtimayorista and Surtimax) renewing between 50 and 60 stores in Colombia and six hypermarkets operated by ‘La 14,’” according to Éxito.

“Innovative formats increased their sales share to 33.3% in Colombia. By brand, ‘Éxito Wow’ stores accounted for 29.6% of sales, ‘Carulla FreshMarket’ 45.1%, ‘Super Inter Vecino’ 47.7% and ‘Surtimayorista,’ which accounted for 4.6% of the company’s sales.

“The operation in Uruguay registered a recurring EBITDA margin of 10.2% and continued as the most profitable operation of the Group. Omnichannel sales grew 9.8% in local currency and represented 3.6% of total sales in that country.

“In Argentina, the operation had significant growth in revenues (+46.8%) in local currency, marked by the recovery of consumption and the real estate businesses. EBITDA margin reached 3.4%, almost twice that registered in 2020,” the company added.

While 2021 delivered solid results corporate-wide, “in Colombia, the beginning of the year was complex, affected by warehouse closures and the national strike,” explained Grupo Éxito president Carlos Mario Giraldo.

“In Uruguay, we had the worst tourist season, and in Argentina we faced a difficult macroeconomic situation.

“However, the Group quickly adapted [thanks to] strengthening of our digital strategy, supported by our network of warehouses, consolidation of our innovative formats and the recovery of businesses in real estate and finance,” he added.


The department of Antioquia -- including Medellin and all its neighboring cities-- has just exceeded 10 million vaccinations against Covid-19, with 67% of the population here now completely vaccinated (in most cases, at least two doses).

This follows on the heels of a simultaneous announcement by Colombia President Ivan Duque that Covid-19 vaccinations nationwide already exceed 80% of the population, with a 70% complete-vaccination-rate fast approaching.

According to the February 18 joint announcement from Colombia’s Health Ministry, the Antioquia departmental government, Universidad Nacional, One Health Genomic Laboratory and Medellin-based electric-power distribution giant ISA (which cooperated in the efforts), Covid-19 vaccinations here have achieved better-than-world-class standards in just 12 months – often matching or even exceeding North American rates.

“With about 277 vaccination posts throughout the department, Antioquia has managed to apply up to 74,386 doses in a single day,” according to the joint announcement.

Antioquia Health Secretary Lina María Bustamante Sánchez added that “we have 83% coverage in first doses and 67% with a complete schedule,” resulting in a dramatic avoidance of Covid-19 hospitalizations and deaths – the latter almost exclusively occurring among the non-vaccinated.

“Where we have had the best rate of vaccination is in the Valle de Aburrá [Medellin metro], Oriente and Suroeste,” Bustamante explained. “In the most remote regions, with problems of public order and displacement, such as Bajo Cauca and Urabá, strategies were created to reach these territories. For that, we have had the alliance with ISA and Universidad Nacional, including a mobile vaccination unit and displacements by helicopters for special vaccination campaigns,” she added.

Commenting on the one-year anniversary of the vaccination campaigns, President Duque added that the government has already spent COP$4.5 trillion (US$1.14 billion) acquiring 104 million doses of Covid-19 vaccines, which are freely given to all residents here.

Since February 17, 2021, when the Covid-19 immunization process began, the national government has already supplied 75.7 million doses, resulting in 71% of all persons over 30 years of age now completely vaccinated.

Vaccinations also have reached the two-dose completion target for 51% of Colombians from 10-to-19-years-old, plus another 28% of children three-to-nine-years-old, according to a February 12 report from the Health Ministry. Childhood vaccinations are now rapidly increasing as Colombia returns to in-person schooling nearly everywhere.


Medellin-based multinational cement/concrete giant Cementos Argos announced February 17 that its full-year 2021 net profit jumped 451% year-on-year, to COP$431 billion (US$109.6 million).

Earnings before interest, taxes, depreciation and amortization (EBITDA) jumped 34% year-on-year, to COP$2.1 trillion (US$534 million), while revenues rose 9.1% year-on-year, to COP$9.8 trillion (US$2.49 billion).

As for fourth-quarter (4Q) 2021, profits skyrocketed by 1,503%, to COP$112 billion (US$28.5 million), while EBITDA jumped 45%, to COP$542 billion (US$138 million ) and revenues rose 9.3%, to COP$2.5 trillion (US$636 million), according to the company.

“Consolidated full-year EBITDA margin of 20.2% is the highest since 2005, when the internationalization of Cementos Argos began,” according to the company.

“Pricing in the U.S. gained traction due to the second price increase of the year. Cement and ready-mix prices increased 2% and 5.3% year over year, respectively. Meanwhile, the CCA [Caribbean and Central America] and Colombia regions had stability in pricing during the quarter.

“Cost inflation continued on the fourth quarter and had an impact across the regions, particularly in fuels, electric energy and freights. The residential segment continues to support solid demand conditions and provides a positive outlook in the U.S. and Colombia,” the company added.

Colombia Results

“Demand conditions in Colombia maintained the solid dynamic evidenced since the third quarter of 2021,” according to Argos.

“Cement and ready-mix volumes [in 4Q 2021] increased 8.3% and 17% respectively versus the fourth quarter of 2020. In terms of pricing, both segments remained flat sequentially. In cement, prices rose 0.2% and in ready-mix prices increased 0.4% versus 3Q 2021.

“The residential segment continued to boost the commercial dynamics in the country. Social [subsidized] and non-social housing sales increased 30% and 24% respectively year-over-year and reached historic records. Additionally, housing starts achieved the highest level in seven years, which is a signal of the continuation of strong demand in the segment.

“Total EBITDA reached COP$142 billion [US$36 million] during 4Q 2021, 9.7% higher than 4Q 2020. The strong EBITDA result was a consequence of the strong volumes in both segments and was possible despite the continuation of cost inflation pressures,” the company added.


Colombia-based cement/concrete giant Cemex LatAm Holdings (CLH) announced today (February 10) a full-year 2021 net loss of US$23 million -- a big improvement over the US$121 million net loss for full-year 2020.

Fourth quarter (4Q) 2021 net loss came-in at US$17 million, down from a net profit of US$8 million in 4Q 2020, according to the company.

“Consolidated net sales during 4Q 2021 increased 8% in comparable terms adjusted for fluctuations in exchange rates, compared to 4Q 2020,” according to CLH.

“Higher volumes in Panama and in the rest-of-CLH-region, as well as higher prices were the main growth drivers,” the company added.

Earnings before interest, taxes, depreciation and amortization (EBITDA) during 4Q 2021 fell 10% versus 4Q 2020. “The decrease was mainly due to lower EBITDA in Colombia, partially offset by higher contributions from Panama and the rest-of-CLH region,” the company added.

For all of 2021, net debt decreased by US$67 million, down 10% year-on-year.

In Colombia, cement volumes dipped 4% during 4Q 2021 but rose 8% year-on-year. Colombia cement prices “remained stable during 2021 compared to with those of the previous year, despite a challenging competitive environment with pricing pressures,” according to CLH.

Inside Colombia, “we recently implemented a price increase of around 4.5% for bagged cement at beginning in December 2021. In 2022, we expect to continue closing the gap between our cement prices and the strong input cost inflation experienced by the industry during previous quarters.We expect our volumes to grow in the low-to-mid-single-digits in cement and in the low-double-digits in concrete.

“In the ready-mix [concrete] business, our volume growth should be supported by higher demand of the market and our recent investments to increase our assets in this business, mainly in the metropolitan areas of Bogotá and Cali,” CLH added.

In Panama, “our domestic cement volumes increased during the quarter and the full year by 8% and 41%, respectively,” according to CLH.

“During 2021, our [Panama] cement plant became a relevant exporter and a key component of our regional commercial network. During the year we exported more than 200,000 tons of cement and clinker to nearby markets lacking supplies.

“In 2022, we expect our volumes to grow by mid-single digits in cement and by at least 30% in concrete. Volume growth should be supported by the recent start of construction of the ‘Line 3 project’ for the Panama Metro.”

In Guatemala, cement volumes “remained strong during 2021 driven by higher activity in the self-construction sector and a recovery in the formal sector. Our cement prices in local currency terms increased 4% and 3% during the quarter and the full year, respectively, compared to the same period of the year last,” according to CLH.

In Nicaragua, “cement volumes remained strong during the year mainly driven by the cement sector in self-construction and government-sponsored projects. Cement consumption was supported by the increase in remittances” from Nicaraguans living and working in North America, the company added.


The just-released, annual “Medellin Como Vamos” (MCV) citizen survey reveals that Medellin Mayor Daniel Quintero has delivered the worst performance of any Medellin Mayor in the entire 16 years of MCV annual citizen surveys.

The result undercuts progress made in the last two decades here, during which Medellin citizens historically have indicated relatively positive, consistent improvements -- aside from ever-worsening traffic-jams -- in over-all quality-of-life and in relatively good performance of local Mayors.

Having overcome the horrific years of Pablo Escobar narco-violence in the 1980s and 1990s, Medellin has more recently become widely regarded as either the best or (at least) among the top-three-best-governed cities in Colombia, for quality-of-life, for work opportunities and for relatively outstanding public transit systems -- thanks to enormous investments by both public and private sectors over the past two decades.

The full MCV 2021 survey (in Spanish) is available here: https://www.medellincomovamos.org/calidad-de-vida/encuesta-de-percepcion-ciudadana .

While Medellin Mayors over the past 16 years have typically enjoyed favorability rankings in the 80-percent-to-90-percent range, Mayor Quintero has seen his favorability plunge to an all-time-worst 54% in the MCV 2021 survey, conducted among all social classes in all Medellin neighborhoods. The survey has a margin-of-error of just 4.1%, according to MCV.

Confidence in Mayor Quintero likewise has plummeted to an all-time-low of 34%, while only 33% of citizens have much or any faith in his management of city affairs – by far the worst mayor in all prior MCV surveys.

Relative satisfaction with Mayor Quintero’s use of public funds likewise has collapsed to an all-time-low of 36%, the survey shows. What’s more, 54% of citizens perceive that corruption in city government has gotten twice as bad in the past year -- far worse than in prior years.

Even more discouraging, only 45% of Medellin citizens now feel the city is headed in a positive direction -- down from positivity ranges of 65% to 85% in all prior MCV surveys.

 

 


Colombia’s Controller-General announced today (January 28) that because of recent insurance payments to EPM by Mapfre, Axxa, Suramericana and SBS – collectively totaling US$1.1 billion -- all companies, politicians and officials who previously faced allegations of errors or omissions that supposedly contributed to a 2018 diversion-tunnel collapse at the US$5 billion Hidroituango hydroelectric project are now absolved of fiscal responsibility.

“The Controller's Office declares the property damage of COP$4.3 trillion [US$1.1 billion] in the Hidroituango case fully repaired,” according to the Controller’s official announcement.

“By virtue of this decision, the precautionary measures that weighed on those declared fiscally responsible are lifted” -- hence liberating 26 companies and individuals that previously were facing fiscal responsibility charges, according to the Controller.

Because of the Hidroituango insurance payments, the Controller “determined and declared that the damage has been fully repaired,” according to the official announcement.

In the wake of the Controller’s decision, Wall Street bond rater Fitch Ratings subsequently announced that it now sees financial liquidity improving not only for EPM (part-owner of Hidroituango) but also for the construction and consulting contractors at the Hidroituango project.

While Fitch now has a more positive view of EPM’s financial liquidity, the bond rater nevertheless has continued its “negative watch” alert because of “continued uncertainty regarding the permanent closure of Hidroituango's blocked water deviation tunnel since April 28, 2018, and final cost overruns of its Hidroituango project, which Fitch estimates to be US$1.73 billion or US$721,000 per megawatt (MW) as of December 2021. 

Hidroituango Progress Update

Immediately following the Controller’s announcement, EPM revealed that it is making significant progress on permanent closure of that collapsed diversion tunnel.

“In 2019, as a result of the tunnel-collapse contingency, the two floodgates installed for this diversion tunnel -- weighing 300 tons each -- were closed to prevent further passage of water,” according to EPM’s announcement.

“In recent days it became possible to enter the [collapsed] Auxiliary Deviation Gallery (GAD), very positive for the recovery of the project and for the tranquility of the downstream communities.

“With the pumping-out of the water that was in this tunnel area, it was possible to allow entry of sufficient personnel and machinery to carry out the proper cleaning and extraction of debris and mud. After the adaptation and cleaning of the GAD, the construction of the two definitive plugs -- 22 meters long -- will need to be installed there,” according to EPM.

In total, the Hidroituango project at year-end 2021 was 86.9% complete, with entry-into-operation of the first two generating units -- totalling 600-MW -- seen in the second half of 2022, according to EPM.

“The powerhouse shows considerable progress in its recovery, civil works and assembly of equipment,” according to EPM, while the water reservoir upstream of the dam and the engineered spillway “are closely monitored with permanent with special equipment and expert personnel,” the company added.


Colombia Health Minister Fernando Ruiz announced this morning (January 24) that total vaccinations against Covid-19 here have now surpassed 70 million.

What’s more, as of January 22, 2022, 30.78 million Colombians had received complete dosages (in most cases two shots, or else the single-shot Johnson & Johnson vaccine).

In addition, 5.1 million Colombians have now gotten a “reinforcement” dose (in most cases, a third shot), according to Minister Ruiz (see graphic, above).

Meanwhile, Health Ministry epidemiology director Julián Fernández announced January 21 that the Omicron variant continues as the overwhelming type of Covid-19 now found here.

Nationwide, more than 90,000 Colombians are (on average) tested daily for Covid-19, and “peak” Omicron infection rates are now “evident,” Fernández stated.

While hospital intensive-care unit (ICU) capacities are at 100% in some areas as a result of the Omicron surge, there’s still spare ICU capacity in other areas, he said.

Unfortunately, Covid-related deaths have risen over the past week in Antioquia, Medellin, Cali, Valle del Cauca and Bogotá, he said.

The rise in Covid-related deaths “isn’t proportional as in past [Covid-case surges],” he said, as the Omicron variant appears to be less-severe than prior variants – about 40-to-70% less severe.

However, to stem the rising tide of Covid cases, the remaining unvaccinated Colombians should get vaccinated, while vulnerable populations – especially those over 50 years old -- should get the reinforcement shot, he added.

As for children, the Sinovac vaccine appears to be the most effective, with the fewest numbers of side-effects, he added. This is an encouraging sign as more and more Colombian children are returning to in-person classes this year, rather than home-based internet learning.

In total, just 0.05% of vaccinated Colombians have reported adverse side effects from the Covid shots, he said. In contrast, unvaccinated Colombians remain five times more likely to suffer severe illness and death from Covid infections, he added.


A stunning final report from Finland-based hydroelectric-project engineering consultant Pöyry finds that the current contractors building the US$5 billion Hidroituango hydroelectric project in Antioquia should continue to finish the project as quickly as possible, rather than be replaced.

Contractor continuation is the safest and fastest route to avoid a possibly catastrophic collapse of the dam, the report concludes.

The current situation -- where 100% of Cauca River flow goes over Hidroituango’s engineered spillway rather than through still-under-construction power turbines -- eventually could cause catastrophic erosion at the base of the dam, as years-long 100% spillway evacuation was never part of the engineering design, the report finds.

The Pöyry report -- contracted by Hidroituango project manager EPM but until now kept secret – not only fails to support conspiracy narratives pushed by Medellin Mayor Daniel Quintero, who chairs EPM’s Board of Directors.

Instead, the Pöyry report –just unveiled by investigative journalists at IFM Noticias (see: https://ifmnoticias.com/aparecio-el-informe-poyry/) – completely contradicts Quintero’s frantic push to replace the current Hidroituango contractors with some new contractors, who (unlike the current contractors) presumably would become politically beholden to Quintero.

The 427-page report not only reveals details of undiscovered, dangerous geological faults in and around the Hidroituango project – faults that unfortunately triggered an enormously costly 2018 collapse of a crucial diversion tunnel – but also recommends crucial measures to avoid a potentially catastrophic dam collapse.

According to the report, any change of the current project consultants and main contractors would cause a “delay in the definition of mitigation measures and in the execution of stabilization works.

“Changing the main actors in this project should be avoided. It would mean significant delays -- minimum one year -- and reduce the traceability in the recovery of the project. In addition, it will increase the overall cost of the project,” the Pöyry report finds.

“Hiring a new contractor for a project the size of Hidroituango will take several months just to define the terms and conditions. Even more so given that there are still parts of the project where it has not been possible to access or define the repair engineering.

“Considering additionally the history and background of the [2018 diversion-tunnel collapse] contingency, it will be a challenge to find a company or a consortium that accepts these conditions without limitations. All guarantees and global responsibility for the proper execution of the works will be lost.

“On the engineering side of the project, it should be estimated that a new consultant would take months to verify all the information provided and generated by the consultancy before it can develop new engineering with solutions for the completion of the project,” the report adds.

“From the point of view of the project and the main interest in advancing as quickly as possible in starting up the first generation units, a change of the main contractor and the consultancy is not recommended and puts at risk the progress of the works currently accumulated. Additionally, there will be a risk that there will be no immediate attention to emergencies on the ground once the current contractor is demobilized.

“Mitigating this risk requires, above all, the following measures:

“Maintain the level of the reservoir at a maximum level of 408 meters above sea level, in order to:

“(i) Allow time to inspect, frequently enough, the landfill along its length and carry out the necessary maintenance and repair work. During the inspection and execution of maintenance and repair work, the spillway gates will be closed, and a temporary increase in the level of the reservoir would be admissible.

“(ii) Improve the stability of the dam, duly considering that to date a hydraulic effect remains to be clarified that indicates the possible existence of a percolation path not captured by the geophysical exploration.

“(iii) Maintain a wide, free edge in case of tsunamis caused by landslides of the slopes along the reservoir or the right abutment of the dam.

“(iv) Increase the retention volume during flood peaks, at least until a sufficient number of generation units are available to contribute to flood evacuation.

“(v) Implement an intermediate discharge independent of the main intakes on the right bank with sufficient capacity to lower the reservoir level below 380 meters above sea level.

“Based on the analysis carried out by Pöyry, this report concludes that the only feasible and reliable way to ensure the total safety of the project works, thus avoiding major environmental and social disasters in the short, medium and long term, is to complete and operate the project safely, as soon as possible,” the report concludes.


Airplan – the operator of Medellin’s José María Córdova (JMC) international airport in Rionegro – confirms that runway repaving will require a partial halt to flights at JMC on Saturday and Sunday February 19-20, then again on Saturday and Sunday February 26-27.

The two weekend closures – each lasting 36 hours -- start 2-am on each of those two Saturdays and then continue until 2-pm on each of those two Sundays. Airlines are notifying passengers of resulting flight changes.

“The maintenance work will be carried out at two specific points of the runway track that require the intervention of the pavement: milling, removal and disposal of the material to install asphalt layers,” according to Airplan.

“The closing dates were previously arranged with the different airlines that operate at JMC, thus enabling timely notification to passengers and, consequently, the reorganization of flights.”

Second-Runway Talks Underway

Meanwhile, Colombia’s Transport Minister Ángela María Orozco announced January 13 that a multi-government work group is pushing ahead with negotiations that would involve an estimated US$2.78 trillion (US$699 million) expansion of JMC -- including construction of a second landing/take-off runway.

“The investments would be focused on the acquisition of land, a new runway with a length of 3.5 kilometers, a new terminal, taxiways, a connectivity system between terminals, a new control tower, a new perimeter road, an electrical substation and a commercial platform,” according to the Transport Ministry announcement.

The multi-party talks include JMC airport concessionaire Airplan, the departmental government of Antioquia, the Mayor's Office of Medellín, the Mayor's Office of Rionegro, business-promotion group ProAntioquia, the Medellín Chamber of Commerce, the Chamber of Commerce of Oriente and Ferrocarril de Antioquia, according to the Ministry.

“What we want is that all the actors and sectors of the region that are involved in these decisions have the same technical information, to be able to debate what is convenient and what is not, in a framework of transparency and equality,” explained Minister Orozco.

JMC is now handling more than 1.1 million passengers each month -- even despite travel declines caused by the Covid-19 health crisis, according to the Civil Aeronautics authority.

While officials had previously envisioned a second-runway expansion by around 2033, passenger and air-freight traffic at JMC is growing so much that accelerated expansion now would seem more convenient if completed by 2030 or even 2028, according to Civil Aeronautics.


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About Medellin Herald

Medellin Herald is a locally produced, English-language news and advisory service uniquely focused upon a more-mature audience of visitors, investors, conference and trade-show attendees, property buyers, expats, retirees, volunteers and nature lovers.

U.S. native Roberto Peckham, who founded Medellin Herald in 2015, has been residing in metro Medellin since 2005 and has traveled regularly and extensively throughout Colombia since 1981.

Medellin Herald welcomes your editorial contributions, comments and story-idea suggestions. Send us a message using the "contact" section.

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