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A Colombian-Chilean consortium formed of Ferrovial Agroman Chile and local company Sainc Ingenieros Constructores was awarded a 142bn-peso contract to divert the Cauca river and build an access tunnel for the engine room of the hydro.
The contract covers a period of 610 calendar days.
The second contract, worth 94bn pesos, covers the provision of buildings associated with the hydro project, and was awarded to Colombian company Arquitectos e Ingenieros Asociados.
Under the 540-day contract the company must provide housing for workers, healthcare, sports facilities, technicians, restaurants and other recreational areas.
EPM plans to open the tender for project processes soon, followed by the principal construction tender, due to be launched in the second half this year.
The dam will use eight turbines and be the largest hydroelectric plant in the country. Investment in the project is slated to reach US$2.8bn.
Colombian JV Hidroituango, comprised of EPM and Antioquia department''s government, created a special purpose vehicle named EPM Ituango to manage the development of the mega hydro.