The company Mapfre Insurance, Hidroituango insurer, made this Tuesday the last payment for 633.8 million dollars for the contingency initiated in the project in April 2018.
This was announced by EPM, which celebrated this disbursement to improve the finances of the megaproject.
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The mayor of Medellin, Daniel Quintero, announced that this payment had already been reported to the Comptroller General of the Republic, where an agreement had been reached in December 2021 for the insurer to make the corresponding payments for said contingency.
“Now it will be the Comptroller General’s Office that will determine, according to the exchange rate of each of the payments made, what is the shortfall that the now condemned politicians and mega-contractors who were unfortunately part of the damage that occurred in Hidroituango must pay,” explained the local president.
On the other hand, Quintero said that he will continue with what he has called the recovery of the money that was lost due to the contingency. “We are going to continue working to recover every peso and guarantee that those responsible are the ones who pay,” he added.
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Today EPM has officially recovered 4.3 billion Hidroituango thanks to the Comptroller’s decision. The Comptroller’s Office itself will define the additional amount to be paid by convicted parties responsible for mismatching the exchange rate. We estimate this amount between 30 and 150 billion. pic.twitter.com/xDdDL0yVhP
– Daniel Quintero Calle (@QuinteroCalle) January 25, 2022
Jorge Andrés Carrillo Cardoso, general manager of EPM, highlighted the joint work of various areas of the company to achieve the payment of the policy. “To this payment for 633.8 million dollars received today, the advance payments by Mapfre to EPM for 350 million dollars are added. Thus, the total payment of the insurer Mapfre for the contingency in Hidroituango amounts to 983.8 million dollars”, he said.
With this payment confirmation, EPM reported that it will proceed with the withdrawal of the arbitration claim that is currently suspended before the Conciliation, Arbitration and Amicable Composition Center of the Medellin Chamber of Commerce and will inform the Comptroller General of the Republic of it, with the aim that this be considered within the judgment of second instance.
For now, the project is still under construction and as of December 31, 2021 it was 86.9% complete and continues with its objective of meeting the goal of starting operations in the second half of 2022.
MEDELLIN
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