Colombia state-run multi-utility EPM plans to invest 7.7tn pesos (US$4.03bn) in power, oil, natural gas and water infrastructure during 2014-17.
Approximately 82% of the total is marked for energy infrastructure investment, with the remaining 18% slated for water infrastructure, the company said in a statement.
EPM plans to use 4.9tn pesos to develop the 2.4GW Ituango hydro project, modernize the Central Playas power station, upgrade the La Sierra thermo plant (allowing it to burn liquid fuel) and create flow control deviations for the Guatapé-Troneras chain of hydro plants.
Additionally electricity transmission and natural gas networks are slated to receive 1.3tn and 163bn pesos of investment, respectively.
The 7.7tn-peso investment plan also includes 1.3tn pesos for expanding EPM's Colombian water coverage and 30bn pesos for social responsibility projects.
In the same period, EPM subsidiaries plan to make 3tn pesos of infrastructure investments (65% in energy and 35% in water) brining total 2014-17 infrastructure investment to 10.7tn pesos.
The majority of EPM and subsidiaries' investment will be used in Colombia (90%) with the remaining placed in neighboring markets where EPM already has a presence.