Hidroituango in bureaucratic danger again

Company News, Regulation & Policy    Nov 29, 2021 6:48 PM

The Controller General left in firm (second instance) the fiscal responsibility ruling against 26 officials and contractors in the Hidroituango case.

The fiscal responsibility ruling is for CoP$4.3T that, for gross negligence, the entity issued last September against 26 officials and contractors, Portafolio reported.

The Decision Chamber of the Fiscal and Sanctioning Chamber of the control entity ratified the ruling, which denied the appeals that had been filed.

The decision was generated as a consequence of the damage to the State’s assets resulting from the increased investments made in Hidroituango and the loss of profits caused after the hydroelectric plant did not start generating energy as of December 2018.

The 26 organizations and individuals involved in the judgment of fiscal responsibility for gross negligence are: former governors of Antioquia Luis Alfredo Ramos Botero and Sergio Fajardo Valderrama; former managers of EPM Federico Restrepo Posada and Juan Esteban Calle Restrepo; and former mayor of Medellín Alonso Salazar Jaramillo.

In addition, former board members Alejandro Granda Zapata, Álvaro Julián Villegas Moreno, Sergio Betancur Palacio, Ana Cristina Moreno Palacios, María Eugenia Ramos Villa and Rafael Nanclares Ospina; and former Idea managers Álvaro Vásquez Osorio and Iván Mauricio Pérez Salazar.

Others involved are Jesús Aristizábal Guevara, former director of Energía EPM; Luis Guillermo Gómez Atehortúa, former Hidroituango manager; John Alberto Maya Salazar, former Hidroituango manager; and Luis Javier Vélez Duque, former EPM-Ituango manager.

In addition, SuperServicios imposed sanction on Hidroituango for not entering into operation in 2018, La Republica reported.

The fine was imposed through Resolution 20212400710405 dated 11/18/2021 and is CoP$1.8B.

Bottom-Line: These news come in the midst of negotiations between EPM and Contractors to extend the contract and continue with the works. However, this decision puts the development of the project at risk, as the contractors will not be in the best disposition to continue working on the project, considering that they must initiate a defense and appeal process.

While the television opportunities for the Controller General and Mayor of Medellín Quintero are unparalleled, have they considered the hundreds of thousands of people living downstream from the dam?

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