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With investments that will exceed COP 2 trillion in 2024, Grupo Empresarial Argos will continue to make progress in consolidating its infrastructure portfolio

1 March 2024
  • The companies of Grupo Empresarial Argos reaffirm their confidence in their long-term strategy and business plan.
  • Cementos Argos’ investments in 2024 will focus on strengthening its operations, raising quality standards, and optimizing its operational processes.
  • Celsia will continue to strengthen its renewable energy portfolio, which today exceeds 70% of its installed capacity. Odinsa will focus its efforts on projects to enhance the country’s competitiveness and the regions by improving road and airport traffic conditions.
  • Urban Development Business of Grupo Argos will allocate COP 100,000 to continue contributing to the development of Barranquilla and the Atlántico, while also driving the creation of formal employment in the region.

In line with its strategic plan and with the goal of continuing to strengthen its leadership in the infrastructure sector of Colombia and the region, the companies of Grupo Empresarial Argos plan to invest more than COP 2 trillion in 2024.

For Cementos Argos, the company plans to make investments exceeding COP 500 billion to strengthen its operations and improve efficiency in its production operational processes and expand its presence in new markets both nationally and internationally, consolidating its position as a significant player and exporter to Central America, the Caribbean, and the United States, while reinforcing its presence in Colombia.

Celsia, will focus its efforts on boosting its renewable energy generation capacity, while continuing to strengthen the quality of service to its more than 1.3 million customers in the Valle del Cauca and Tolima. The company’s investment will approach COP 540 billion. It is worth highlighting the acceleration of the solar farm installation plan of up to 20 MW, with which it expects to add 100 MW of new installed capacity in 2024 alone. In 2023, Celsia closed with 300 MW installed in solar generation and currently has an additional 400 MW in development.

In the case of Odinsa, investments exceed COP 550 billion and correspond to the execution of road infrastructure projects such as the Malla Vial del Meta, which includes the construction and improvement of 267.4 kilometers of roads in the Villavicencio–Granada and Villavicencio–Puerto Gaitán corridors, along with the extension of the Villavicencio Ring Road. Also noteworthy is the investment in structuring private initiatives that seek the expansion and improvement of El Dorado Airport in Bogotá: (i) El Dorado Max, an efficient solution to maximize the use of the current terminal of El Dorado Airport, and (iii) El Dorado Flight Field, which proposes improvements in the airport’s runways and taxiways, with cutting-edge technology and an expansion of its capacity. On the other hand, the company continues to advance in the awarding of the second tunnel of the Túnel Aburrá Oriente concession in Medellín, which could represent investments of about COP 1.2 trillion additional in the next four years.

Finally, among the investments of Grupo Argos, the efforts of the Urban Development Business stand out, which in 2024 will invest more than COP 100 billion in urban development projects in the metropolitan area of Barranquilla that seek to contribute to the city’s housing deficit and contribute to the generation of new public spaces for the inhabitants of the city, improving their quality of life.