Inspector General ruled on Hidroituango

Company News, Regulation & Policy    Sep 10, 2021 4:48 PM

The Inspector General issued a fiscal responsibility ruling against more than 23 individuals and companies.

The ruling is for more than CoP$4T due to irregularities found in the Ituango hydroelectric plant, Hidroituango, Portafolio reported.

Only two people were declared without fiscal responsibility: the former governor of Antioquia Aníbal Gaviria and Jorge Mario Pérez Gallón, former alternate member of Hidroituango’s Board.

Former governors of Antioquia Luis Alfredo Ramos and Sergio Fajardo Valderrama were declared fiscally liable.

The Inspector investigated them for a series of events “successive and concatenated that contributed to put the project in a situation of vulnerability and that finally triggered the 2018 contingency.”

“These events contributed to unjustifiably increase the investments, which led to the destruction of the net value of the project and, as a consequence of the non-entry into operation, energy was neither generated nor marketed, causing a loss of profit,” the Inspector General explained.

The entity considered that there were delays in the designs, caveats in the contract, delays in the signing of the tunnel contracts, delays in the development of the tunnel contract and the completion of the deviation works took place under an acceleration plan.

Bottom-Line: It is positive to hear that the investigations into this important case are moving forward and finding those responsible for the failures and processes that led to the emergency.

This ruling could affect Sergio Fajardo’s plans to become the next President of Colombia…

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