Colombia's ISA sees investment of up to $33 bln through 2040, says CEO

BOGOTA, March 13 (Reuters) - Colombian conglomerate ISA ISA.CN expects to invest between $28.4 billion and $33.1 billion through 2040, the company's chief executive said on Thursday.

The projected investment will mostly go to power transmission projects, or some 67% of the total, while around a quarter will be destined to new electricity projects and the remainder for roadways, according to CEO Jorge Carrillo.

ISA will also pursue divestitures in telecommunications and services infrastructure, Carrillo added.

"In the transmission business, we will continue where we are and look to expand into new countries in Latin America, as well as new solutions like energy storage. Besides being in the region, we would like to enter the U.S.," Carrillo noted.

ISA, which has operations in Colombia, Brazil, Chile, Peru, Bolivia, Central America, and Argentina, invested 4.8 trillion pesos ($1.17 billion) in 2024.

Carrillo said the investments aim to more than double the company's earnings before interest, taxes, depreciation, and amortization (EBITDA), which reached 9.7 trillion pesos last year.

The company's net profit rose 14% in 2024 to 2.8 trillion pesos ($678.5 million). The conglomerate will recommend a dividend of 1,265 pesos per share, distributing 50% of its 2024 profits to shareholders.

($1 = 4,114.9100 Colombian pesos)