EPM receives payment of USD $633.8 million for the coverage of the Hidroituango contingency
Mapfre has paid a total of USD $983.8 millones to EPM for the contingency.
- Fecha de publicación
- 2022-01-25 00:00
- Titulo
- EPM receives payment of USD $633.8 million for the coverage of the Hidroituango contingency
- Contenido
-
Mapfre has paid a total of USD $983.8 millones to EPM for the contingency.
- With this final payment, the claim adjustment and any disputes in relation to it between EPM and Mapfre are finalised
- EPM is moving forward with the assembly of the first two power generation units, with the goal of entering into operation in the second half of 2022
The company Mapfre Seguros Generales de Colombia, insurer of the Ituango Hydroelectric Project, made a final payment of 633,8 million dollars on Tuesday, January 25, for the contingency initiated in the Ituango Hydroelectric Project in April 2018, under the coverage of the policy for “all construction and assembly risks”.
This payment is made in compliance with the provisions of the Transaction Contract signed on December 10, 2021 between Mapfre Seguros General de Colombia and EPM, and in the Second Instance Judgment of the Comptroller General of the Republic, notified on November 26, 2021.
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. “This payment for $633.8 million dollars received today are in addition to the advance payments by Mapfre to EPM for $350 million dollars. As such, the total payment by the insurer Mapfre for the Hidroituango contingency amounts to $983.8 million dollars”, said Carrillo Cardoso.
With this confirmation of payment, EPM 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 the same, with the objective that this be considered within the Second Instance Judgment.
With good energy
EThe Ituango Hydroelectric Project, which today has stability in all its work fronts, maintains the reduction of risks for the communities located downstream of the dam, the care of the environment and the technical recovery of the work, which as of December 31, 2021 had an advance of 86,9% of construction.
EPM works with all its resources to get the first two power generation units of the Ituango Hydroelectric Project into operation, which each have a capacity of 300 megawatts (MW), in the second half of 2022. With this, it adds to the development of the country and the quality of life of Colombians.