General News

Medellin’s ‘Regional Norte’ Highway Wins Debottlenecking Project Finance

Medellin Herald September 14, 2018

The Antioquia departmental government (Gobernacion de Antioquia) and the Area Metropolitana del Valle de Aburra (AMVA, the association of Medellin regional governments) announced September 13 that financing has been secured for a major debottlenecking project of the “Regional Norte” highway

Congresses & Conferences

‘Expotravel,’ ‘Expocamacol’ Shows Boost Medellin and Colombia for Business, Nature, Cultural Tourism

Medellin Herald September 6, 2018

Colombia’s Ministry of Commerce, Industry and Tourism (“MinCit”) announced September 5 that the “Colombia Travel Expo 2018” at the Hotel Intercontinental in Medellin this week is seen generating at least COP$15 billion (US$4.8 million) in immediate business deals. Meanwhile, the recently concluded “Expocamacol” building-construction trade show at Medellin’s Plaza Mayor

General News

Update: EPM Reveals Assumptions About Hidroituango Financial-Recuperation Plan

Medellin Herald September 3, 2018

Medellin-based multinational electric-power giant EPM on September 9 revealed in a presentation to the Medellin City Council key financial assumptions about its proposed sale of assets and other measures to cover losses arising from the Hidroituango hydroelectric project diversion-tunnel collapse. “Among other issues, we highlight that in the case of the Hidroituango

Professional services

Personal/Corporate Due-Diligence, Business-Deal, Real-Estate Investigator Konfirma Reports 45% Growth, Offers Bilingual Services

Medellin Herald August 29, 2018

Medellin-based, national corporate-and-individual risk-management, due-diligence and real-estate investigator Konfirma announced August 29 that its first-half (1H) 2018 revenues grew 45% year-on-year — and the company expects full-year 2018 revenues to rise about 40% year-on-year. In an August 29 interview with Medellin Herald, Konfirma general manager Sergio

Companies

Colanta, Proleche Among Antioquian Companies Winning Dairy Exports to Mexico

Medellin Herald August 28, 2018

Colombia’s Ministry of Commerce, Industry and Tourism (MinCIT) announced August 28 that Antioquian milk-products producers Colanta and Proleche are among 11 companies that just won certifications and approvals to export certain dairy-based products to Mexico. MinCIT, ProColombia and Invima collectively worked to open Mexico’s doors to Colombian milk products from 13 newly

General News

Update: Controller-General Claims Hidroituango Crisis Arose From Insufficient Studies, Planning, Controls

Medellin Herald August 26, 2018

Colombia’s Controller-General on August 25 unveiled a 442-page report finding that recent problems with the US$5 billion, 2.4-gigawatt “Hidroituango” hydroelectric project in Antioquia are the result of insufficient technical studies, planning and regulatory controls. The Controller’s report is especially critical of Colombia’s environmental licensing agency (Agencia

Companies

Update: Moody’s, Fitch Both Confirm EPM’s Investment-Grade Rating Despite Hidroituango Issues

Medellin Herald August 25, 2018

Wall Street bond rater Fitch announced September 12 that it has decided to maintain its “AAA (col)” investment-grade rating for Medellin-based multinational electric power giant EPM — but issued a cautionary “negative” outlook. The Fitch decision follows in the wake of fellow Wall Street bond rater Moody’s, which last month likewise maintained an

Companies

ISA 2Q 2018 Net Income Drops Year-on-Year, But First-Half 2018 Still Profitable

Medellin Herald August 23, 2018

Medellin-based multinational electric-power grid operator ISA reported August 13 that its second quarter (2Q) 2018 net income dropped 16% year-on-year, to COP$232 billion (US$77.6 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) for 2Q 2018 likewise dropped 3.8% year-on-year, to COP$945 billion (US$316 million), according to the company. As

Events

Car-Crazy Cities On The Mend: Detroit and Medellin

Medellin Herald August 23, 2018

August is the month when both Medellin and Detroit celebrate classic cars — and the joyful return of positive vibes — via the “Desfile de Autos Clasicos” here and the gigantic “Woodward Dream Cruise” in Detroit.  Both events — August 11 here, August 18 in Detroit – draw millions of spectators and participants, although the […]

Companies

EPM First-Half 2018 EBITDA Grows 10% Year-on-Year

Medellin Herald August 18, 2018

Medellin-based multinational utilities giant EPM announced July 31 that its first-half (1H) 2018 earnings before interest, taxes, depreciation and amortization (EBITDA) grew 10% year-on-year, to COP$2.5 trillion (US$865 million). Net profits for 1H 2018 were steady year-on-year, at COP$1 trillion (US$ 346 million), according to the company. The city of Medellin – EPM’s