EPM will sue for $ 2.8 bn as conciliation for HidroItuango fails

According to information published by Semana, Empresas Públicas de Medellín (EPM), will advance the lawsuit for $ 2.85 billion against the designer consortium Generación Ituango (made up of Integral and Solingral SA), the construction consortium CCC Ituango (made up of the firms Camargo Correa, Conconcreto and Coninsa-Ramón H), the interventor consortium Ingetec-Sedic and against the reinsurance companies Suramericana and Chubb Seguros. The process is carried out within the context of the malfunctions, delays and damages of the most ambitious electricity generation project in Colombia.

With 1.002 news buses for Bogotá, BYD wins the largest pure-electric order outside of China

BYD announced that it has exclusively won cumulative orders to supply 1,002-unit pure-electric buses to Bogotá, in a tender open to all bus technologies. This is the largest order for pure-electric buses outside of China to date, which sets a new record in sales volume for the overseas pure-electric bus industry. Like the 470 bus models delivered by BYD to Bogotá in December 2020, this batch of 1002 buses also includes 9-meter and 12-meter models. BYD will partner with local bus manufacturers Superpolo and BUSSCAR respectively on the bus body parts. At present, BYD has accumulated 1,550 orders for pure electric buses in Colombia, operating in Medellin, Cali and other cities, in addition to Bogotá.

Colombia’s GDP to contact by 7% in 2020, and grow 4.8% in 2021: Fedesarrollo

The Colombian think tank Fedesarrollo delivered a new report on economic prospects for Colombia. The Colombian Gross Domestic Product (GDP) would contract 7% as of December (6.8% is what the National Government expects), which represents a more pessimistic outlook from the 6.5% forecast in November last year. However, Fedesarrollo improves its projection for the end of this 2021. While in November of last year it saw an economic rebound between 3.5% and 4.4%, now it expects the rebound to be 4.8% ( 5% is the official bet). Fedesarrollo expects the GNC's gross debt to be at 65.2% of GDP in 2020.

Colombia´s president Duque unveiled policy framework to fight against deforestation

The President of the Republic, Iván Duque Márquez, presented in Leticia, the departmental capital of Amazonas, the document Conpes 4021, which establishes the 'National Policy for the control of deforestation and the sustainable management of forests', which was led by the National Planning Department (DNP) and the Ministry of Environment and Sustainable Development. “This is the public policy formulated by Colombia, in the short, medium and long term, to face deforestation and protect, in a structural way, calling on all government areas in the protection of biodiversity ”, Duque said.

Procolombia announced a fund for $ 20 mn to support Colombian SMEs

Procolombia announced that the Andes Plus Fund I, which has an initial capital of $ 20 million, will benefit Colombian and Peruvian SMEs with resources from a Dutch development fund. The resources are designed for inclusive companies that work towards the improvement of underserved, vulnerable or low-income populations in their value chains. According to Jaime Ramírez, managing partner of Andes Impact Partners (AIP), managers of the Andes Plues Fund I, they are seeking to increase the fund from $20 to $50 million.