Companies

ACI Touts Arrival of Swiss Multinational Amaris to Medellin’s ‘Ruta N’

Medellin Herald January 19, 2018

Medellin business-development agency Agencia de Cooperación e Inversión de Medellín y el Área Metropolitana (ACI) announced January 19 that Switzerland-based multinational consultant Amaris plans to expand its Colombian and South American operations following start-up of new offices at

General News

EPM Debuts 1st-Ever Commercial Solar-Power System at ‘El Tesoro’ Shopping Mall

Medellin Herald January 19, 2018

Medellin-based multinational electric-power giant EPM announced January 19 the start-up of a 590 megawatt-hours/year (MWh/year) solar-voltaic power system for the “El Tesoro” shopping mall in the Poblado district. The photovoltaic system will operate in parallel with conventional grid power (overwhelmingly hydroelectric-sourced), according to EPM. It’s EPM’s first-ever

General News

Electric Power Demand During 2017 Dipped in Antioquia, Grew Nationally

Medellin Herald January 18, 2018

The latest study by Medellin-based XM – Colombia’s national power-grid operator and wholesale power-trading center – finds that demand for electric power in Antioquia slipped by 0.8% year-on-year during full-year 2017, while nationwide power demand actually rose 1.3%. Nationwide power demand in 2017 totaled 66,893 gigawatt-hours, the study found. Power demand growth in

Colombian economy

Colombia’s Banco de la Republica 2018 Survey: Peso/Dollar Range COP$2,800 to COP$3,200

Medellin Herald January 18, 2018

The latest monthly survey of leading banks and financial firms by Colombia’s Banco de la Republica (the national bank) finds that the Colombian peso is likely to trade in a range of COP$2,800 to COP$3,200 per US$1 during 2018, with a foreseen average of COP$2,995/US$1 by year-end. The monthly survey

Colombian economy

Colombia GDP to Rise 2.6% in 2018: Latest United Nations ECLAC Study

Medellin Herald January 16, 2018

In a new study released January 15, the United Nations Economic Commission for Latin America and the Caribbean (ECLAC) finds that Colombia’s gross domestic product (GDP) is likely to rebound to 2.6% growth in 2018, up from 1.8% in 2017. “GDP is projected to expand by 2.6% in 2018 against a backdrop of lower interest […]

Companies

EPM Taps IDB, International Banks for US$1 Billion ‘Hidroituango’ Finance

Medellin Herald December 31, 2017

Medellin-based multinational power giant EPM announced December 29 that it won a US$1 billion credit from the Interamerican Development Bank (IDB) “Invest” funding subsidiary for debt finance of its 2.4-gigawatt, US$5 billion “Hidroituango” hydroelectric project in Antioquia. The credit package includes payback terms of eight-to-12 years. Draws would take place during a

General News

Antioquia’s ‘Toyo’ Tunnel Wins Enviro Licenses, Construction to Start in 2018

Medellin Herald December 21, 2017

Medellin Mayor Federico Gutierrez and Antioquia Governor Luis Perez jointly announced December 18 that the 9.8-kilometers-long “Toyo” tunnel project has now won required environmental licenses, paving the way for construction start-up in January 2018. The “Toyo” tunnel project – estimated to cost COP$1.83 trillion (US$617 million) in 2012 pesos — would link the new

General News

Medellin’s Top Business-Development Leaders Reveal Big Investments, Expansions Coming

Medellin Herald December 21, 2017

In a December 21 press conference at Mayor Federico Gutierrez’s office, Medellin’s top business-development agency leaders revealed a host of initiatives that promise to bring millions of dollars in new investments and re-investments starting in 2018 and subsequent years. One example: At least three of the world’s top hotel chains are mulling a proposal to […]

General News

‘Ruta al Mar’ Highway Project Wins Big Financing Package

Medellin Herald December 15, 2017

Colombia’s national infrastructure agency (Agencia Nacional de Infraestructura, ANI) and the Financiera de Desarrollo Nacional (FDN) national financing organization jointly announced December 14 that a new deal ensures COP$1.47 trillion (US$490 million) financing for the “Ruta al Mar” highway project linking northern Antioquia to Atlantic coastal ports. The new financing

Colombian economy

Mining, Energy Still Crucial to Fix Colombia’s Weak Finances: Fedesarollo

Medellin Herald December 13, 2017

Colombia’s top economic think-tank — Fundación para la Educación Superior y el Desarrollo (Fedesarollo) — on December 13 unveiled a report which finds that mining and energy projects will continue to be crucial to restoration of slumping national government finances. Antioquia is Colombia’s biggest gold-mining department — and hence figures into the