Sura Asset Management will initiate a new private debt fund - managed by its subsidiary Sura Investment Management-, to obtain between $ 300 and $ 500 million from institutional investors (mainly pension funds and insurance companies) to provide financing to SMEs and large companies that have suffered during the coronavirus pandemic.
Colombian President Iván Duque confirmed this Wednesday that beverages and food producer Pepsico will invest 158 million dollars in Colombia to modernize their in Funza-Cundinamarca plant and establish another in the Guarne community in Antioquia, official sources reported this Wednesday. The project will generate 4,000 jobs in Colombia, an contribute to a 20% increase in the purchase of national potatoes. PepsiCo has become the largest buyer of potatoes in the country, acquiring approximately 75,400 tons per year of this tuber in the departments of Boyacá, Cundinamarca, Nariño and Antioquia.
Colombian hydrocarbons regulator ANH has published definitive terms of reference for a selection process to hire contractors for unconventional oil and gas pilot wells. Bids are due to be submitted on November 3, with contracts to be awarded on November 23, ANH said. ExxonMobil, ConocoPhillips, Parex and state-run oil firm Ecopetrol are among companies to have submitted plans for unconventional exploration projects in the Middle Magdalena and Cesar-Ranchería basins. The Colombian Petroleum Association (ACP) has said the initiatives could eventually produce 450,000boe/d and attract $5bn in annual investments, helping to replace the country's dwindling hydrocarbon resources.
The number of Colombians opening their first financial account rose in the first half of 2020 by the most in nearly seven years, as the government handed out billions in aid and subsidies during the coronavirus lockdown. About 85.9% of Colombians had access to the financial system as of June 30, compared with 82.5% at the end of 2019. That growth in financial system access was the largest since 2013. Welfare payments and Value Added Tax reimbursements for poorer Colombians were key to the expanded use of financial products, Banca de Oportunidades director Freddy Castro said.
The Colombian Energy and Gas Regulation Commission is set to publish new regulation to free transmission lines for more renewable energies. The future norm with coverage throughout the national territory will create a special regulatory framework enabling electricity generation initiatives not exceeding 10 megawatts (Mw) to deliver their energy to the National Interconnected System. The resolution will also cover the hydroelectric and thermoelectric sources to deliver electricity to the interconnected system. Of the total generation projects that would benefit from the release of transmission lines, 28 are from solar plants (photovoltaic), 12 from wind complexes and one from a biomass plant.
La Dona Fruit – a leading producer and exporter of fresh golden pineapples and tropical fruits in Latin America – announced the official opening of its Valle Verde packhouse and coldstore for Tahiti limes in Apartadó, Antioquia, in the north of Colombia. The state of the art 1,542m2 facility is part of La Dona’s objective of becoming the largest lime exporter in Colombia, and serves as the launchpad for exports to expand to the USA and the Caribbean, to complement existing business in Europe, with a capacity to pack 1,000 tonnes per month of premium Tahiti limes.