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 four projects in Aragon for a total value of 41.5 million euros. The implementation of these four projects will involve a total investment of 62 million euros and the creation of 58 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 Aragón where it is necessary to strengthen industrial capacities and with this we contribute to establish population and combat the demographic challenge.”
Four approved projects
The first project corresponds to the company of Sabiñánigo Iberfoil Aragón for the construction of a plant of 43,000 square meters for transformation of scrap to aluminum coil, with production capacity of up to 25,000 tons. With a total investment of 42.3 million euros, 40 jobs will be generated.
Two projects belong to the Almunia de San Juan Quality Corn Grain company to expand and digitize its facilities and improve production lines. The 16.7 million total investment between the two projects will generate twelve new jobs.
The latest project is that of the Zaragoza company Solutex to implement a new production line within the nutritional sector. The almost three million total investment will involve the hiring of six more people.
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).