Infrastructure

Colombia VP Marta Lucia Ramirez Hails Crucial Puerto Antioquia Financing Deals

Medellin Herald January 8, 2022

Colombia Vice President Marta Lucía Ramírez announced January 5 the addition of US$397 million in financing deals supporting the US$627 million “Puerto Antioquia” ocean freight project near Turbo, Antioquia. Part of the new funds will come via the privately held Financiera de Desarrollo

Companies

EPM Inks 11-Months Contract Extension for Partial Completion of Hidroituango

Medellin Herald December 16, 2021

Medellin-based electric power giant EPM announced this afternoon (December 16) that it just finalized an agreement with the existing, principal constructors of the US$5 billion Hidroituango hydroelectric plant — hence enabling continued construction through November 2022. The deal includes an eight-months extension seen required to finish current installations that

Other Norms

Travelers 18-and-Up to Colombia Must Have Complete Covid-19 Vaccinations by December 14

Medellin Herald December 12, 2021

Colombia President Ivan Duque announced last night (December 6) that starting December 14, most international travelers 18-years-and-older to Colombia must present proof of COMPLETE vaccinations against Covid-19 – in part to help thwart the latest threat from the Omicron variant. Following that announcement, Colombia Health Minister Fernando Ruiz announced this morning

Infrastructure

Vias del Nus Highway Now Opens Medellin to Northern Atlantic Ports

Medellin Herald December 5, 2021

Colombia President Ivan Duque on December 4 officially inaugurated the long-awaited “Vias del Nus” highway connecting Medellin northward to Atlantic freight ports. The new, 157.4-kilometers-long highway includes a four-lane, twin-tube tunnel that breaks through the historically problematic “La Quiebra” mountain, which until now has snagged road transport to and from

Other Norms

EPM’s Biggest Labor Union, Infrastructure Trade Group Sue to Stop Controller’s Halting of Hidroituango Project

Medellin Herald December 5, 2021

Sinpro – the trade union representing most employees of Medellin-based utility giant EPM – and Cámara Colombiana de Infraestructura Seccional Antioquia (CCI-SA) announced December 5 that they have filed a lawsuit in a Cundinamarca Administrative Tribunal seeking to stop Colombia’s Controller-General from enforcing a COP$4.3 trillion (US$1.08 billion) fine that inevitably

Politics

Antioquia Ex-Governor, Presidential Candidate Sergio Fajardo Accuses Controller-General of Political Manipulation, Corruption, Duplicity in Hidroituango Case

Medellin Herald November 30, 2021

Centrist politician Sergio Fajardo – a former Antioquia Governor, former Medellin Mayor and now candidate for Colombia’s Presidency – this morning (November 30) publicly accused Colombia Controller-General Carlos Felipe Córdoba of shocking political manipulation and corruption in the Hidroituango hydroelectric-project damages case. “Until today I have kept my defense in

Other Norms

Hidroituango Completion Thrown into Doubt as Controller Confirms US$1.07 Billion Fine Against Constructors, Politicians

Medellin Herald November 26, 2021

Colombia’s Controller-General (Contraloria General de la Nacion, CGR) announced this morning (November 26) finalization of CGR’s earlier-proposed COP$4.3 trillion (US$1.07 billion) fine against 28 individuals, politicians, insurers and companies that allegedly are responsible for the 2018 collapse of a diversion tunnel at the US$5 billion “Hidroituango” hydroelectric

Other Norms

Update: Complete Covid-19 Vaccinations Mandatory for Public Spaces Starting December 1

Medellin Herald November 16, 2021

Colombia’s Health Ministry and President Ivan Duque jointly announced November 19 that starting December 1, 2021, people over 18 years old must show proof of COMPLETE Covid-19 vaccination in order to enter most places of mass gatherings. The upcoming mandate — a stricter version that replaces the existing mandate, which today only requires partial (one-shot) […]

Companies

Mineros SA 3Q 2021 Profits Drop 67% Year-on-Year on Cost Spikes

Medellin Herald November 16, 2021

Medellin-based multinational gold mining giant Mineros SA announced November 15 that third quarter (3Q) 2021 profits fell 67% year-on-year, to US$8.2 million, as cost hikes in Nicaragua and Argentina hurt over-all results. Corporate-wide gold production dipped by 1% year-on year, to 63,758 ounces, “in line with the company’s updated guidance for 2021,” according to

Companies

Grupo Sura 3Q 2021 Net Income Soars 192% Year-on-Year

Medellin Herald November 13, 2021

Medellin-based multinational insurance, health-care and financial-services giant Grupo Sura announced November 12 that its third quarter (3Q) 2021 net income skyrocketed by 192% year-on-year, to COP$445 billion (US$114 million). Revenues rose 23% year-on-year, to COP$6.6 trillion (US$1.7 billion), the company added. As for the first nine months of 2021, net income is up