The Productive Industrial Investment Support Fund (FAIIP), promoted by the Ministry of Industry, Trade and Tourism and managed by the public company SEPIDES, has approved the financing through loans of three projects in Andalusia for a total value of 7 million euros. The implementation of these three projects will involve a total investment of 14.69 million euros and the creation of 43 jobs.
The Minister of Industry, Trade and Tourism, Reyes Maroto, recalled that “this fund to support productive industrial investment is further proof of the Government’s firm decision to contribute to the reindustrialization of our country, generating new productive capacities and quality employment. In addition, the projects that have been approved are very relevant because they are investments in territories such as Andalusia where it is necessary to strengthen industrial capacities and with this we contribute to establish population and combat the demographic challenge”.
Three projects approved
The first project belongs to the Legumbres Pedro company in Cádiz to create a new plant in Alcalá de los Gazules that integrates dry legume and cooked legume production lines in the same production center. The total investment will be four million euros and eight new jobs will be generated.
The second project is that of the Malaga company Sparkle Smile to automate its facilities and implement a production line for teeth whitening solutions. With a total investment of 657,411 euros, eight jobs will be generated.
The latest project is that of the Seville company Abonos Orgánica Sevilla to increase its production capacity of the municipal solid waste treatment plant. The 10 million euros of total investment will generate 27 new jobs.
Industrial Development Support Fund
The Productive Industrial Investment Support Fund (FAIIP) has approved since its launch 45 business projects throughout Spain amounting to 706 million euros and a total investment of 1,526 million euros, which will create 2,665 direct jobs.
It is an inclusive fund that hosts and finances industrial projects of companies regardless of their size and large territorial capillarity.
With a budget of 1.8 billion euros, FAIIP finances private companies and cooperatives that develop or are going to develop a productive industrial activity and industrial services regardless of their size, supporting the creation and transfer of establishments, as well as improvements and/or modifications of production lines and processes.
The financing is carried out by means of ordinary loans, participative loans, participation in temporary and minority capital, or mixed formulas between the previous ones with long-term operations (up to 10 years) and high shortfalls (up to 3 years in ordinary and participative loans).