Companies

Medellin’s Odinsa Posts 49% Hike in 2016 EBITDA Year-on-Year

Medellin Herald February 27, 2017

Medellin-based highway, airport and power-plant infrastructure concessionaire Odinsa announced February 27 that its full-year 2016 earnings before interest, taxes, depreciation and amortization (EBITDA) rose 49% year-on-year, to COP$1.06 trillion (US$367 million). Full-year 2016 revenues hit

Companies

Bancolombia 2016 Profits Jump 13.8% Year-on-Year

Medellin Herald February 24, 2017

Medellin-based Bancolombia – Colombia’s biggest bank – on February 21 announced that its 2016 full-year profits rose 13.8% year-on-year, to COP$2.86 trillion (US$994 million). “The growth in 2016 of the Bancolombia group — in the midst of a soft-landing of the Colombian economy after an important external shock — showed positive behavior,” according to the […]

Companies

Celsia’s 2016 EBITDA, Net Income Both Rise Year-on-Year

Medellin Herald February 24, 2017

Medellin-based electric power producer Celsia reported February 21 that its full-year 2016 earnings before interest, taxes, depreciation and amortization (EBITDA) rose 51% year-on-year, to COP$1.03 trillion (US$357 million) – an all-time-record. Net income also rose to COP$171 billion (US$59 million), while investments totaled COP$302 billion (US$104 million). In fourth

Companies

Cormagdalena to Consider PowerChina Dredging Proposal on March 8

Medellin Herald February 24, 2017

Cormagdalena – the Colombian government agency overseeing a proposed dredging project for the Magdalena River – announced February 22 that it had received a letter of intent from PowerChina Limited Colombia (PCLC) that would assume control of the long-stalled project. However, according to Cormagdalena, PCLC still must complete technical, legal and financial analyses of

Companies

Antioquia’s ‘Flores El Capiro’ Wins International Award; Valentine’s Day Exports Surge

Medellin Herald February 8, 2017

Medellin-based flower exporter Flores El Capiro recently won the International Association of Horticultural Producers (AIPH) “International Grower of the Year” award at a ceremony in Essen, Germany. According to AIPH, Flores El Capiro is one of the largest chrysanthemum growers and container exporters not only in Colombia but also in the whole world. “Delivering flowers

Companies

Colombian Agency OK’s US$102 Million for ‘Vias del Nus’ Highways in Antioquia

Medellin Herald January 25, 2017

Colombia’s national finance agency (Financiera de Desarollo Nacional, FDN) announced January 25 that it approved a COP$300 billion (US$102 million) provisional credit for the under-development “Vias del Nus” highway project linking Medellin northward to the Rio Magdalena and then connecting to key Caribbean ports including Cartagena and Barranquilla. The “Vias del Nus”

Companies

Corona Launches Construction of Big Cement Plant in Antioquia

Medellin Herald January 11, 2017

Colombia-based multinational ceramic-products maker and basic materials producer Corona announced January 10 the launch of construction on a 1.35 million tonnes/year cement and 3,150 tonnes/day clinker plant at Sonson, Antioquia, about 50 kilometers east of Medellin. Corona and Spain-based partner Cementos Molins are putting US$238 million into project via a new joint

Companies

Exito, Bancolombia Affiliate FIC Ink US$256 Million Investment Deal in ‘Viva Malls’

Medellin Herald December 28, 2016

Medellin-based retail giant Grupo Exito announced December 27 that Fondo Inmobiliario Colombia (FIC) – partly owned by Medellin banking giant Bancolombia – signed a deal whereby FIC will invest COP$770 billion (US$256 million) in Exito’s “Viva Malls” subsidiary. Viva Malls has 12 commercial malls already operating in Colombia and two nearly complete, with a total […]

Companies

Navelena Achieves Financial Close on Crucial Magdalena River Dredging Project

Medellin Herald December 17, 2016

Cormagdalena – the Colombian government agency overseeing a dredging project for the Magdalena River that would dramatically improve freight movements – announced December 16 that project developer Navelena SAS has at last achieved financial close on the COP$2.5 trillion (US$877 million) “public-private association” (APP in Spanish initials) project. The project had

Companies

Huawei, Astound Expanding High-Tech Jobs, Investments at Ruta N

Medellin Herald December 7, 2016

Medellin’s high-tech development center Ruta N announced December 7 that San Francisco-based web and e-commerce developer Astound Commerce has opened a new office here — and aims to generate 50 to 100 new programming jobs over the next 12 months. Astound’s total investment at Ruta N is estimated at US$1.5 million to US$3 million. The […]