General News

International Hotel Chains Rapidly Expanding in Medellin, Antioquia

Medellin Herald July 11, 2018

Investment promotion agency Agencia de Cooperacion e Inversion de Medellin y el Area Metropolitana (ACI) announced July 10 that besides the under-construction, 220-room Hilton luxury hotel on Las Palmas and the recently completed, US$50 million Marriott hotel in El Poblado in Medellin,

General News

Fitch Awards Highest ‘AAA’ Debt Rating for Medellin’s ‘Metro’ Transit System

Medellin Herald July 10, 2018

Medellin’s “Metro” public transit agency announced July 9 that Wall Street bond rater Fitch just upgraded Metro’s long-term debt rating to “AAA (col)” from “AA + (col)” while the short-term rating remains at a relatively strong “F1 + (col).” “In both cases, these are the highest ratings that [Fitch] gives to Colombian companies,” according to […]

Schools

World Bank, FDN Team-up in Finance for Medellin Public-School Expansions

Medellin Herald June 29, 2018

The World Bank’s International Finance Corporation (IFC) and Colombia’s Financiera de Desarrollo Nacional (FDN) development agency jointly announced January 29 a COP$209 billion (US$74 million) investment in building new schools in Medellin. The private-sector winners of concession bids to build and maintain the new buildings will enter into “public-private association”

Culture

Update: Medellin’s ‘Expoartesano’ Breaks All Records; ‘Colombia Canta’ Show Coming Next

Medellin Herald June 29, 2018

Medellin’s Plaza Mayor convention center today announced that the ninth annual “Expoartesano” show (June 29 through July 8) broke all sales and attendance records, an encouraging signal for growth in demand for native crafts and goods. During the 10-day event, “Expoartesano” drew 39,879 visitors, who spent a total of COP$4.08 billion (US$1.4 million) at the

General News

‘Mar 1’ Highway Linking Medellin to Atlantic, Pacific Ports Nears Financial Close

Medellin Herald June 28, 2018

Colombia’s national development agency (Financiera de Desarrollo Nacional, FDN) announced June 27 that it approved another COP$600 billion (US$204 million) in debt finance for the crucial “Mar 1” highway project linking Medellin to current and future Atlantic ports in Antioquia and indirectly to the Pacific port of Buenaventura. The latest debt approval means that

Events

Medellin’s Annual Orchid and Flower Show Draws 120,000 Visitors

Medellin Herald June 22, 2018

The 23rd annual “Orquideas, Pajaros y Flores” (orchids, birds and flowers) show in Medellin’s Botanical Garden this year not only drew huge crowds (estimated at 120,000 visitors) but also a cavalcade of orchid collectors and photographers. For this year’s show (August 5 through 9), Medellin Herald brought the husband-and-wife photo-journalism team of John

General News

Update: Hidroituango Crisis Likely Over by October 2018, Completion in 2021, If Challenges Overcome

Medellin Herald June 19, 2018

In a June 20 press conference, Medellin-based multinational electric power giant EPM announced that it now foresees the likelihood of overcoming the current engineering crisis at its US$5 billion, 2.4-gigawatt “Hidroituango” hydroelectric project in Antioquia by around October 2018. What’s more, EPM revealed in a separate filing June 18 that Hidroituango construction

General News

Hydroelectricity Now 85.7% of Colombia’s Total Electric Power: XM

Medellin Herald June 13, 2018

The latest monthly study from Medellin-based wholesale electric-power grid operator XM finds that hydroelectric generators now account for 85.7% of all national power generation – confirming Colombia’s enviable status among the “greenest” power generators on Earth. What’s more: Once Medellin-based EPM resolves what today is looking more like a temporary engineering problem

General News

Colombia’s National Engineering Society Sees Possible Solutions to Hidroituango Crisis

Medellin Herald June 7, 2018

The Sociedad Colombiana de Ingenieros — (SCI, the Colombian national association of engineers) — on June 6 announced that several possible solutions are seen arising to overcome the current crisis affecting EPM’s under-construction, 2.4-gigawatt “Hidroituango” hydroelectric dam in Antioquia. The US$5 billion “Hidroituango” project would supply 17%

General News

OECD Affiliation Boosts International Investor Interest in ‘4G’ Highways: ANI

Medellin Herald June 6, 2018

The Colombian national infrastructure agency (Agencia Nacional de Infraestructura, ANI) announced June 6 that thanks to Colombia’s new entrance into the Organization for Economic Cooperation and Development (OECD), 13 major international funding organizations now aim to invest in “fourth generation” (4G) highway projects here. Ten of those organizations are private-equity