Infrastructure

Puerto Antioquia Wins US$200 Million Finance Package from IDB Invest

Medellin Herald October 12, 2021

Colombia President Ivan Duque announced October 11 during a visit to Washington, DC, that the proposed “Puerto Antioquia” ocean freight port near Turbo, Antioquia just won another US$200 million in financing from the Interamerican Development Bank’s “IDB Invest” group. The project – now

Companies

Construction Giant Coninsa Ramon H Files Bankruptcy Petition

Medellin Herald October 12, 2021

Medellin-based construction giant Coninsa Ramon H – one of the principal contractors to the US$5 billion “Hidroituango” hydroelectric project – this morning (October 12) filed a bankruptcy petition with Colombia’s Superintendencia de Sociedades (Supersociedades) regulatory agency. Under Colombian law, the petition is known as an “Emergency Negotiation of a Reorganization

Companies

Wall Street’s S&P Ratings Group Sees Strong Outlook for UNE-EPM

Medellin Herald October 5, 2021

While the Medellin City Council is mulling Medellin Mayor Daniel Quintero’s proposed sale of EPM’s 50% stake in the UNE-EPM telecom/internet/cell-phone/cable-TV joint venture with Spain-based Millicom, a new report from Wall Street bond rater S&P (BRC Ratings) ironically sees a brighter outlook for the unit, contradicting Quintero’s gloom. In an October 4 filing

Companies

Wall Street’s S&P Ratings Group Sees Strong Outlook for UNE-EPM

Medellin Herald October 5, 2021

While the Medellin City Council is mulling Medellin Mayor Daniel Quintero’s proposed sale of EPM’s 50% stake in the UNE-EPM telecom/internet/cell-phone/cable-TV joint venture with Spain-based Millicom, a new report from Wall Street bond rater S&P (BRC Ratings) ironically sees a brighter outlook for the unit, contradicting Quintero’s gloom. In an October 4 filing

Companies

Wall Street’s S&P Ratings Group Sees Strong Outlook for UNE-EPM

Medellin Herald October 5, 2021

While the Medellin City Council is mulling Medellin Mayor Daniel Quintero’s proposed sale of EPM’s 50% stake in the UNE-EPM telecom/internet/cell-phone/cable-TV joint venture with Spain-based Millicom, a new report from Wall Street bond rater S&P (BRC Ratings) ironically sees a brighter outlook for the unit, contradicting Quintero’s gloom. In an October 4 filing

Volunteering

Medellin’s Pioneering ‘Tikkun Olam Makers:’ Students, Teachers, Institutes, Companies Altogether Creating Novel, Practical Technologies for Disabled People

Medellin Herald October 4, 2021

Back in 2016, Medellin-based engineering-technology “coach” Hector Londoño was searching world-wide for new, creative ways to inspire his students to get involved in designing and building novel, affordable products that could help improve the lives of disabled people. At first, Londoño — a 20-year-veteran educator (including the last 14 years at The Columbus School,

Health & Insurance.

Colombia Aims for 9.5 Million Covid-19 Vaccinations This Month

Medellin Herald October 2, 2021

Colombia Health Minister Fernando Ruiz revealed October 1 that 40.7 million doses of Covid-19 vaccines have now been applied nationally here through end-September — meaning more-than-half of all Colombians have already received at least one shot. Through September 30, Colombia received another 14 air-freight deliveries of Covid-19 vaccines last month, totaling 12.85

Companies

Sura’s VaxThera Confirms 2023 Start-up for US$54 Milllion Vaccine Plant in Antioquia

Medellin Herald September 23, 2021

Medellin-based multinational insurance and health-care giant Grupo Sura just confirmed this afternoon (September 23) that its VaxThera biotech division will build a US$54 million plant and laboratory here in Antioquia for production of up-to-100-million bottles/year of vaccines for the Latin American market. “The location was defined after a detailed analysis by a group of

Taxes

President Duque Signs Social-Fiscal Reform Legislation; Aids Poor, Students, Small Business; Boosts Taxes on Wealthier Sectors

Medellin Herald September 14, 2021

Colombia President Ivan Duque today (September 14) signed far-reaching tax and social-benefits legislation that promises to benefit more than 29 million poor- and middle-class Colombians — while also putting a heavier tax burden on wealthier individuals and corporations. Not only is the legislation progressive — contradicting some biased media reports and some

Companies

Coltejer Shuts Down Completely

Medellin Herald September 10, 2021

Medellin-based textile giant Coltejer revealed in a September 9 filing with Colombia’s Superfinanciera oversight agency that it has decided to shutter all operations for what remains of 2021 — and hinted of even more drastic, permanent measures coming. “The suspension of productive activities will continue for the rest of this year 2021,” according to Coltejer. […]