- The implementation of these five projects will involve a total investment of 320.7 million euros and the creation of 871 jobs
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 five projects in the Basque Country for a total value of 164.9 million euros. The implementation of these five projects will involve a total investment of 320.7 million euros and the creation of 871 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 the Basque Country where it is necessary to strengthen industrial capacities and with this we contribute to establish population and combat the demographic challenge”.
Approved projects
The first outstanding project is that of the Biscayan company Haizea Wind to build a new building and improvements to another within its wind turbine manufacturing activity. With a total investment of 150 million euros, it will generate 624 new jobs.
Another outstanding project is that of the Gipuzkoan Sapa Operations, which will modernize its facilities with a total investment of 69.7 million euros and the creation of 69 jobs.
Papresa, Mechanized Lerun and Elmubas Ibérica are the other projects funded.
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).