September 27, 2023
Business Companies

EPM Hidroituango Bid-Completion Analysis Favors Most-Expensive Option, Raises Suspicions

Medellin-based electric power giant EPM on September 10 publicly revealed its internal analysis of several competing bids aiming for completion of the US$5 billion, 2.4-gigawatt Hidroituango hydroelectric project here in Antioquia. Ironically, EPM eliminated two bidders — Todini Costruzioni Generali S.P.A. and China Gezhouba Group Company Limited — who
Health & Insurance.

Colombia’s Sura, Sanitas, Compensar EPS Networks Warn Health Ministry of Imminent Financial ‘Collapse’

Medellin-based private-sector health-network provider EPS Sura along with EPS Sanitas and Compensar EPS jointly announced in a new letter to Colombia Health Minister Guillermo Alfonso Jaramillo (see photo, above) that they face shut-down as early as late September unless the Health Ministry takes urgent measures to shore-up their deteriorating financial situations. If
Business Companies

IMSA 2Q 2023 Net Profits Soar Year-on-Year

Medellin-based food additives, chemical-composites and consumer/industrial products maker Grupo IMSA announced August 14 that its second quarter (2Q) 2023 profits hit COP$47 billion (US$11.4 million), up from COP$2.3 billion (US$560,000) in 2Q 2022. Revenues also rose, to COP$254 billion (US$62 million), versus COP$180 billion (US$44 million) in 2Q 2022, according to IMSA.