Infrastructure

Antioquia’s ‘Mar 2’ Highway to Atlantic Ports Wins Financing; ‘Sinifana’ Tunnel Makes Progress

Medellin Herald July 31, 2019

Colombia’s national infrastructure agency (Agencia Nacional de Infraestructura, ANI) announced July 31 that the 254-kilometers-long “Mar 2” highway project connecting Medellin to new Atlantic ports just won financial close. According to ANI, the project got US$652 million in finance from three

Companies

Cemex LatAm Posts 2Q 2019 Net Loss, but Colombia Sales Rise Year-on-Year

Medellin Herald July 26, 2019

Colombia-based Cemex LatAm – producer and marketer of cement and concrete in Colombia, Panamá, Costa Rica, Nicaragua, El Salvador and Guatemala – on July 25 posted a second quarter (2Q) 2019 net loss of US$4 million, down from a US$4 million net profit in 2Q 2018. However, consolidated volumes of gray cement reached 1.5 million […]

Congresses & Conferences

Colombiamoda 2019 Sales Deals Seen at US$143 Million

Medellin Herald July 26, 2019

Medellin-based textile and clothing industry trade group Inexmoda announced July 25 that the just-concluded, 30th annual “Colombiamoda” fashion show here generated sales deals estimated at US$143 million. While that’s a 15% dip from last year’s Colombiamoda sales estimate, it’s still a positive sign for Colombia’s fashion industry, with Medellin and Antioquia continuing to

Companies

EPM Expanding ‘Green’ Power; Hidroituango Dam Complete; Finances Improve

Medellin Herald July 18, 2019

Medellin-based multinational electric power giant EPM announced July 18 that its 2.4-gigawatt (GW) “Hidroituango” hydroelectric power project in Antioquia has reached a crucial milestone: Completion of the 434.6-meters-high (above sea-level) dam. Still remaining: installation of turbines and power-control works in the mechanical room, damaged last year by diverting Cauca

Medellin + Antioquia news

Medellin Census: 2.37 Million Residents Now; ‘Quality of Life’ Best in Colombia

Medellin Herald July 14, 2019

Colombia’s national statistics agency (DANE) on July 12, 2019 revealed that the 2018 national census found Medellin’s resident population hit 2.37 million, up 7.6% from the last census in 2005. Meanwhile, the adjacent suburbs in Valle de Aburra grew by 12% over the same period, with the result that Medellin plus its neighboring suburbs now […]

Companies

Gran Colombia Gold 2018 results March 2019

Medellin Herald July 13, 2019

Gran Colombia Gold, Continental Gold Post Net Losses for Full-Year 2018 Toronto-based Gran Colombia Gold (GCC) on March 27, 2019 posted a US$3.4 million net loss for full year 2018, down from a US$36.8 million profit in 2017. “The net loss in 2018 includes $28.4 million of losses on financial instruments, primarily triggered by the […]

Infrastructure

Medellin’s JMC International Airport Cargo Terminal Expansion Nearly Complete; Passenger Traffic Soars

Medellin Herald July 13, 2019

Colombia’s national infrastructure agency (Agencia Nacional de Infraestructura, ANI) announced July 12, 2019 that the COP$110 billion (US$34 million) expansion of the cargo terminal at Medellin’s José María Córdova (JMC) international airport is nearly complete. “The project awarded by ANI to the operator of Aeropuertos Centro Norte (Airplan) seeks via this extension to

Economy & Finance

Colombia’s GDP Grew 2.7% in 201 February 2019

Medellin Herald July 11, 2019

Colombia’s national economics statistics agency (DANE, Departamento Administrativo Nacional de Estadistica) on February 28 revealed that its latest studies indicate national gross domestic product (“PIB” in Spanish initials) hit 2.7% for full-year 2018, up from a feeble 1.4% in 2017. Meanwhile, Fedesarollo – Colombia’s leading economic think-tank – now foresees a

Economy & Finance

Nutresa 2018 results February 2019

Medellin Herald July 11, 2019

Nutresa Full-Year 2018 Net Profits Jump 20% Year-on-Year Medellin-based multinational processed foods giant Nutresa announced February 22, 2019 that its full-year 2018 net income rose 20% year-on-year, to COP$508 billion (US$155 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) climbed 7% year-on-year, hitting COP$1.1 trillion (US$336

Companies

Celsia 2018 results February 2019

Medellin Herald July 11, 2019

Medellin-based electric power producer Celsia announced February 19, 2019 that its full-year 2018 net income rose 39.7% year-on-year, to COP$350.7 billion (US$112.6 million), from COP$251 billion (US$80 million) in 2017. Fourth-quarter (4Q) 2018 net income also rose year-on-year, hitting COP$108 billion (US$34.7 million), up from COP$71 billion (US$22.8 million) in 4Q