Inassa seeks conciliation in Colombia probe

Spanish water holding company Inassa presented a conciliation offer to Colombia’s attorney general to resolve a legal battle regarding the former’s alleged mismanagement of Barranquilla’s water utility Triple A.

The proposal, which was submitted to the attorney general on May 13 but was not confirmed until May 23, offers to terminate a technical assistance contract, which investigators allege was a cover-up to funnel resources from Triple A to Inassa’s parent company Canal de Isabel II, and invest 175bn pesos (US$52mn) in new water infrastructure for Barranquilla, daily El Tiempo reported.

The investments would be on top of the ones Triple A has already planned, and include a new potable water treatment plant and a new water conveyance pipeline, said the newspaper, which had exclusive access to the document.

In exchange, Inassa requested the end of all lawsuits and investigations into the firm, which so far have resulted in the seizure of Triple A’s shares that were owned by the Spanish company.

In response, the attorney general’s office said on its website that the proposal is being reviewed, but warned that it is not in any sort of negotiations with Inassa and that the proposal does not mean a halt to the investigations.

“The prosecution urges Canal Extensia de Madrid [another firm owned by Canal de Isabel II and Inassa’s main shareholder] and Inassa to contribute with the investigations,” the attorney general’s office said in a release.