Reactions to Hidroituango ruling

Company News, Regulation & Policy    Nov 29, 2021 6:47 PM

Controller General ratified the fiscal responsibility ruling against 26 officials and contractors, generating reactions.

The mayor of Medellín and president of EPM’s Board of Directors, Daniel Quintero, highlighted that it is a historic ruling because it prevents EPM from being harmed in the future, Valora Analitik reported.

Quintero said that EPM will enter into talks with the Controller Office so that those millionaire payments arrive as soon as possible and that they will support the resources to continue with the work.

“The contractors will not be able to leave the work abruptly or immediately, but then with the extension and the transition that will take place, we hope it will be as smooth as possible,” Quintero said.

The Mayor of Medellín said that Hidroituango will have no problems of any kind to enter into operation with its first units in 2022.

“We can say with peace of mind that the project will continue,” Quintero said.

Lawyer Mauricio Pava, lawyer for former mayor and presidential pre-candidate, Sergio Fajardo, explained that although the Controller confirmed the fiscal responsibility ruling in the Hidroituango case, it still has no effect, Valora Analitik reported.

He said that this decision would only be applied once it is reviewed by the Council of State, where it will automatically arrive to be analyzed for its legality. This process will take about 6 or 7 months, according to the expert.

Pava said that the political aspirations of the former mayor of Medellín as well as the continuity of the hydroelectric works will remain firm.

He said that Fajardo’s defense will ask the high court to allow them to represent themselves, as they claim that the Controller General did not receive evidence.

The CCC Ituango Consortium, builders of the project, said that this measure puts at risk the timely entry into operation of the Hidroituango hydroelectric power plant, La Republica reported.

CCC Ituango will exercise the available judicial actions to “achieve the protection of the rights that were violated during the fiscal responsibility process”.

 

Bottom-Line: Quintero, as always, tries to send a message of tranquility, assuming that the contractors will take this decision calmly and the operator transition process will be quick and smooth. What a nice dream…

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