PRESS RELEASE

EPM budgets 17.4tn pesos for 2019 investments

By
Tuesday, November 27, 2018

EPM is committed to the development of Colombia and the well-being of its inhabitants. By 2019, the business group's parent company will have a budget of 17.4tn pesos for investments in potable water infrastructure, wastewater, generation, distribution and transmission of energy. In addition, it includes the recovery and continuity of the Ituango hydroelectric project, debt service, operation of the organization and transfers to the municipality of Medellín.

The Board of Directors of EPM approved in its session on Tuesday, November 27, the budget for next year, focused on those purposes of contributing to the development of the territories in which it has a presence and contributing to the quality of life of millions of people with public services with quality, continuity and coverage. Thus, the company generates opportunities for more and more Colombians.

Start your 15 day free trial now!

cta-arrow

Already a subscriber? Please, login

The General Manager of EPM, Jorge Londoño De la Cuesta, indicated that "by 2019 we made a special emphasis on the operation of all our services, because we know that having potable water, sanitation, energy and gas are vital for the quality of life of the We also work tirelessly in the recovery of the Ituango hydroelectric project and in the normalization of the social situation of the communities affected by the contingency. "

The 2019 investments for COP 3.2 trillion comprise, in addition to the rehabilitation and continuity of the Ituango hydroelectric project, works in equipment replacement, expansion and modernization of water, energy and gas services networks.

This will finance the budget for 2019

The $ 17.4 trillion budget will be financed 50% with current revenues ($ 8.6 trillion), 22% with the sale of some locally and internationally authorized assets ($ 3.8 trillion), 6% with credit resources ( $ 1 trillion) and the rest with other sources of operation.

EPM plans to obtain dividends from the national and international subsidiaries for $ 438,000 million.

It is important to highlight that EPM will provide transfers to the Municipality of Medellín for $ 1.1 billion, thanks to these resources thousands of people from Medellín will benefit from social programs aimed at serving children, caring for older adults, overcoming poverty, sports and recreation, access to the vital minimum of water, infrastructure works, education and housing that add to the Antioquia capital advances on the path of equity, development and innovation.

In summary, the 2019 budget will be distributed globally, as follows:

▪ Marketing and production costs: $ 5.5 trillion (32%).

▪ Debt service: $ 3.6 billion (21%).

▪ Operating expenses: $ 3.3 trillion (19%), which include resources for the Municipality of Medellin for $ 1.1 trillion.

▪ Investments: $ 3.2 billion (18%).

▪ Final cash availability: $ 1.8 billion (10%).

This EPM press release was published using an automatic translation system.