Companies

Hidroituango Hydroelectric Project Repairs 65% Complete at 2-Year Anniversary of Tunnel Collapse

Medellin Herald April 26, 2020

Medellin-based electric power giant EPM announced April 25 that the US$5 billion, 2.4-gigawatt “Hidroituango” hydroelectric power project in Antioquia – one of the world’s biggest — continues to make progress following a destructive bypass tunnel collapse two years ago. That collapse and

Companies

Hidroituango Hydroelectric Project Repairs 65% Complete at 2-Year Anniversary of Tunnel Collapse

Medellin Herald April 26, 2020

Medellin-based electric power giant EPM announced April 25 that the US$5 billion, 2.4-gigawatt “Hidroituango” hydroelectric power project in Antioquia – one of the world’s biggest — continues to make progress following a destructive bypass tunnel collapse two years ago. That collapse and subsequent damage to the machine room and related facilities caused a three-year

Companies

Nutresa 1Q 2020 Profits Rise 9% Year-on-Year

Medellin Herald April 25, 2020

While most Colombia-based companies are getting clobbered by the Coronavirus crisis, companies making and selling groceries and prepared foods through stores to date are doing relatively well. Example: Medellin-based multinational foods giant Grupo Nutresa on April 24 reported a COP$190 billion (US$47 million) consolidated net profit for first quarter (1Q) 2020, up 9.1%

Other Norms

Medellin Adopts Employer-Employee Controls for Partial Reopening of Economy During Coronavirus Crisis

Medellin Herald April 24, 2020

Medellin Mayor Daniel Quintero announced April 24 a novel computerized registration scheme – unique in all Colombia — for all employers and employees in the construction and manufacturing sectors that are reopening for business on April 27 in the Valle de Aburra metro area. Employers are now registering their businesses (and their employees) at

Economy & Finance

Medellin & Antioquia Sales Crashing; Business Liquidity Vanishing; 130,000 Jobs Lost Here in Coronavirus Crisis

Medellin Herald April 24, 2020

The Medellin Chamber of Commerce for Antioquia (CCMA) just revealed a new study indicating that the Coronavirus quarantine costs the local economy here at least COP$170 billion (US$42 million) every day — and 95% of businesses have seen sales drop anywhere from 80% 100% during the crisis. As a result, Antioquia regional gross domestic product (“PIB” in […]

Editorial

Colombia’s Governors, Mayors Overwhelmingly Support President Duque on Coronavirus Controls; but Bogota Mayor Starts Tilting at Windmills

Medellin Herald April 23, 2020

Colombia’s main trade associations for departmental governors and mayorships just endorsed what most Colombians view as President Ivan Duque’s rational, science-driven and politically reasonable handling of the Coronavirus crisis. The National Federation of Departments (FND) and the Colombian Federation of Municipalities (FCM) on April 22 publicly endorsed President

Other Norms

Medellin Metro Areas Unify ‘Pico y Cedula’ April 27 To May 11 with New Rotations

Medellin Herald April 23, 2020

The Area Metropolitana de Valle de Aburra (AMVA) announced April 23 that Medellin and all its neighbors in Valle de Aburra will switch to a unified “pico y cedula” system restricting grocery, medicine and banking trips to certain days of the week during the Coronavirus quarantine. The new order covers Medellin, Barbosa, Itagüí, Caldas, Sabaneta, […]

Companies

AngloGold’s ‘Quebradona’ Mine Project in Antioquia Resumes Preliminary Works with Strict Health Protocols; Environmental Licensing Process Continues

Medellin Herald April 23, 2020

AngloGold Ashanti Colombia announced April 23 that its proposed “Quebradona” copper-gold mine project near Jerico, Antioquia soon will get a second information-gathering visit from Colombia’s Agencia Nacional de Licencias Ambientales (ANLA, the environmental permitting agency). Commenting on the news, company president Felipe Marquez added that the upcoming site visit “is

Infrastructure

‘Pacifico 1’ Highway Connecting Medellin to Southwest Restarts with Health Protocols

Medellin Herald April 22, 2020

The Medellin-based “Covipacifico” consortium building the “Pacifico 1” highway between Medellin’s southern suburbs (Ancon Sur) and the Cauca River town of Bolombolo on April 20 unveiled details on construction relaunch — tied to strict Coronavirus-avoidance protocols. According to the consortium, “some of the measures endorsed by the ANI [Colombia’s infrastructure

Other Norms

Colombia Quarantine Extended to May 11; Manufacturing, Construction OK; No Passenger Flights Through May 30

Medellin Herald April 21, 2020

Colombia President Ivan Duque announced last night (April 20) in a nationwide televised address that the current Coronavirus quarantine that had been set to expire April 27 instead will be extended another two weeks—to May 11. Broader quarantines on vulnerable populations including school-age students and those over 70 will continue through May 30. Aside from […]