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"Ecopetrol expresses its strong opposition to the protests that have been introduced to El Doncello, Caquetá," said the oil giant.

"We expect a substantial reduction of the warrant liability and an increase in shareholders' equity," said Tecnoglass CEO José M. Daes. in Colombia.

The construction phase is expected to last 39 months, and the company will operate the transmission system for 25 years.