Altri informs the President of the Xunta de Galicia that it chooses Palas de Rei as the best possible location for the complex of textile fibres
Feijóo stresses that this decision, the result of an exhaustive technical analysis by the company, is a fundamental step forward in this project, thus complying with the request made unanimously by the Galician Parliament for the factory to be located in the province of Lugo.
The development of this initiative would involve an investment of 800 million euros and the creation of 2,500 direct and indirect jobs.
The President stresses the need to close this project, being not only a candidate but also a successful recipient of European funds: “We need the central government to close this circle and commit to the material and efficient execution of the funds, according to the regulations of the same”, he emphasises.
26 April 2022
After a meeting with the CEO of the company, Jose Soares de Pina, the President of the Xunta de Galicia, Alberto Núñez Feijóo, stated that this decision, the result of an exhaustive technical analysis by Altri, is a fundamental step forward in this project, thus complying also, with the request made unanimously by the Galician Parliament for the factory to be located in the province of Lugo.
“We are talking about an investment of just over 800 million euros and the creation of 2,500 direct and indirect jobs,” he said, stressing the enormous importance of this plant for Galicia, becoming the only textile fibre factory in Spain.
During his speech, the President of the Xunta recalled that this is a new project that has been “desired and worked for” for a long time and emphasised the need to close this project, being not only a candidate but also a successful recipient of European funds. ““We need the central government to close this circle and commit to the material and efficient execution of the funds, according to the regulations of the same”, he added.
In this regard, he affirmed that the regional administration, within its area of competence, would continue to be committed and to work to advance in all phases of its development.
The head of the Galician government concluded by thanking Altri for the decision to invest in Galicia, with a project through which the region aims to make up 3% of the world production of sustainable fibre.
Miguel Corgos joins the board of Impulsa Galicia
Miguel Corgos López-Prado, Treasurer and Minister of Public Administration for the Xunta de Galicia, has joined the board of Impulsa Galicia, the Galician Association for the Development of Strategic Projects. Corgos will represent the regional government, replacing the previous treasurer, Valeriano Martínez García.
Impulsa’s board is led by Francisco Conde, the Xunta’s Vice President of the Economy. His second in command is the managing director of Abanca, Francisco Botas. Other members of the board include the Xunta’s Minister for Rural Affairs José González; Emilio Bruquetas, the CEO of Reganosa; José Eduardo Álvarez-Naveiro the director of corporate governance and legal affairs at Abanca; and Abanca’s head of legal advice Eduardo Cortizo. Independent advisors include the former president of the Xunta and current professor of Applied Economics at the University of A Coruña, Fernando González Laxe; Santiago Lago Penas, a professor of Applied Economics at the University of Vigo; Amparo Alonso Betanzos, the president of the Spanish Association of Artificial Intelligence; and the vice governor of the Council of Europe Development Bank, Rosa María Sánchez-Yebra.
The board met in Santiago to discuss the development status of each of the projects that the organisation is working on, in addition to looking at other potential opportunities.
The organisation
With 5 million euros of founding capital behind it, Impulsa was established in April 2021 as a joint venture between the Xunta de Galicia (40%), Abanca (38%), Reganosa (12%), and Sogama (10%). The entity has been entrusted with developing business initiatives with the tractor effect that will support the development, progress, and transformation of the Galician economy by using a digital and green model. It was born out of the objective to incentivise productive activity among the community by attracting investment, forging partnerships, and fostering collaboration between public and private institutions with a view to launch and consolidate new businesses ideas.
Above all, Impulsa’s objective is to support and expand the reach of the Pole for the Transformation of Galicia, an initiative from the Xunta de Galicia that forms part of the strategy for applying for access to NextGenerationEU funding. It also aims to follow the principles of circularity and sustainability, as well as being ‘green’, digital, inclusive, generating wealth in the local community, and combining the interests of approximately thirty SMEs as well as those of larger companies.
The organisation charged with making strategic initiatives viable in Galicia chooses an industry leader to navigate the next phases of the project that will transform timber into sustainable textile fibre
Impulsa Galicia (the Galician Association for the Development of Strategic Projects) has secured an investor and technologist for one of their “tractor effect” initiatives. The evolution of the project, which will turn timber into textile fibre, is thanks to a great deal of development work over the last few months. A deal with Altri will be signed to guarantee the manufacture of 200,000 tonnes of sustainable textile fibres annually in Galicia, using timber sourced from Galician forests as well as recycled textiles.
The global search for a technologist involved a fair, homogenous selection process that was based on technical, operational, and strategic criteria. The chosen industry leader will fund the design and development of the project until investment is secured, as well as explore potential alliances within the Galician forestry value chain. Impulsa will work with Altri to complete the required administrative tasks as well as to find potential locations suitable for the project.
Total disbursement for the project is expected to be 800 million euros, with one of the main goals of the initiative being to build a factory that manufactures lyocell, a type of sustainable fibre that can be turned into thread, fabric, and clothing. It would be produced using timber sourced from Galician forests in addition to textile recycling. The operation, maintenance, and logistics of the project in its entirety will result in 1,500 direct jobs and more than 6,500 indirect jobs, while the factory’s construction will employ an additional 1,700 people.
The plan adheres to the principles of circularity, sustainability, and innovation, and putting it into motion will highlight the value of the region, contribute to rural recovery, promote the use of certified timber, make use of some of the most environmentally friendly technology available, close the forestry production cycle in Galicia, and provide a solution to the growing demand for sustainable, high-quality, locally made textile fibres.
“We have developed an innovative idea, turned it into a project with the tractor effect, and found a technologist and investor that will allow it to continue to prosper. Everything that this organisation was created for is exemplified in this plan for sustainable management of Galicia’s forests,” explains Enyd López. She adds “We are very happy that we have found a good partner and have been able to clearly articulate what lies ahead for this local project, a result of the collaboration between the public and private sectors that promotes a core activity for the Galician economy. We are just getting started with this inclusive project [and it is] open to collaboration with the Galician forestry sector, especially SMEs and the value chain which, just like the process itself, will be digitalised and apply the principles of sustainable mobility. We hope that this initiative will have a multiplier effect, ultimately resulting in sustainable employment opportunities in the long term”.
The organisation
With 5 million euros of founding capital behind it, Impulsa was established in April 2021 as a joint venture between the Xunta de Galicia (40%), Abanca (38%), Reganosa (12%), and Sogama (10%). The entity has been entrusted with developing business initiatives with the tractor effect that will support the development, progress, and transformation of the Galician economy by using a digital and green model. It was born out of the objective to incentivise productive activity among the community by attracting investment, forging partnerships, and fostering collaboration between public and private institutions with a view to launch and consolidate new businesses ideas.
Above all, Impulsa’s objective is to support and expand the reach of the Pole for the Transformation of Galicia, an initiative from the Xunta de Galicia that forms part of the strategy for applying for access to NextGenerationEU funding. It also aims to follow the principles of circularity and sustainability, as well as being ‘green’, digital, inclusive, generating wealth in the local community, and combining the interests of approximately thirty SMEs as well as those of larger companies.
Expert in circular economy to lead Impulsa Galicia, a public-private entity established to help develop strategic projects in Galicia
Two others will also work alongside Enyd López on the organisation’s board of directors: Amparo Alonso, an expert in artificial intelligence, and Rosa María Sánchez-Yebra, the vice-governor of the Council of Europe Development Bank.
Santiago de Compostela
July 12, 2021
Enyd López Fernández, a chemical engineer who holds a degree in chemistry from the University of Santiago and who is also an expert in circular economy, is the new head of Impulsa Galicia, the Galician Association for the Development of Strategic Projects. The organisation is a joint venture that was established in April by the Xunta, Abanca, Reganosa, and Sogama with the goal of modernising Galicia’s economy by applying the fair, green, and digital transition model. Its main objective is to help develop strategic initiatives for Galicia. Amparo Alonso Betanzos, an expert in artificial intelligence, and Rosa María Sánchez-Yebra, who specialises in fiscal policy, will also join the organisation’s board of directors.
Enyd López was chosen by the board to be managing director of the organisation. Until recently, López was the head of Galicia Saica Natur, a part of Grupo Saica that focuses on the circular economy and waste management. She has also led several teams, divisions, and delegations for Grupo Saica throughout Spain.
Two more women have also been appointed to the board. Amparo Alonso is a professor of Computer Science at the University of A Coruña, as well as the president of the Spanish Association of Artificial Intelligence and a member of the Artificial Intelligence Advisory Council.
Rosa María Sánchez-Yebra is the vice governor of the Council of Europe Development Bank. She has also sat on the boards of the Banco de España and the National Securities Market Commission and was the secretary-general of the Spanish Treasury and Department of Fiscal Policy.
Impulsa Galicia is established with the goal of assisting with the development of strategic plans in Galicia
Francisco Conde, the Xunta’s Deputy Vice President and Minister for the Economy, Business, and Innovation, was joined by the Treasurer and Minister for Public Administration, Valerio Martínez, and the Minister for Rural Affairs, José González, at the organisation’s inaugural meeting today
The board has nine members, including its president Francisco Conde and vice president Francisco Botas, who is also the managing director of Abanca
With a social capital of 5 million euros provided by the Xunta, Abanca, Reganosa, and Sogama, Impulsa Galicia is now open to forming new partnerships
Santiago de Compostela
May 3, 2021
Francisco Conde, the Vice President for Economic Affairs and the Minister for the Economy, Business, and Innovation, was joined by Valeriano Martínez, the Minister for the Treasury and Public Administration, and José González, the Minister for Rural Affairs, at the inaugural meeting of Impulsa Galicia, the Galician Association for the Development of Strategic Projects. The organisation will assist in the development of initiatives included in the nominations for the Pole for the Transformation of Galicia.
It is anticipated that this pole will mobilise more than 3 billion euros in the first three years. It includes eight initiatives that could potentially lead to Galicia producing green hydrogen, a factory that converts cellulose into textile fibres, a waste treatment centre for the production of biogas, the expansion of renewable energy, and a boost to industrial digitalisation.
Impulsa Galicia will therefore focus on ideas that have the potential to transform their sector and that have an impact on production, employment, and the region itself, while also having a “tractor” effect on the production network with the ultimate goal of boosting the digital and ecological transformation of the autonomous community.
One of the organisation’s priorities will be to improve the capillarity and the multiplier effect of this funding, with SMEs at the centre of this strategy. It will assist in the search for investors for the development of projects and provide consulting services to improve the professionalism and consolidation of new businesses, including legal, financial, administrative, commercial, industrial, and management support. The organisation will act as a driving force and evaluate projects in accordance with their impact on value chains in production sectors.
Impulsa will improve Galicia’s chances when it comes to securing the Next GenerationEU funding. The autonomous community currently has 354 initiatives with the potential to mobilise 20 billion euros in investment. The ideas are based on three key principles: including SMEs; making R+D a transversal concept; and fostering collaboration between the public and private sectors.
Impulsa has 5 million euros of founding capital behind it, with 40% provided by the Xunta de Galicia, 38% provided by Abanca, 12% provided by Reganosa, and 10% by Sogama, and is open to forming new partnerships. The board has nine members: the office of president will be held by Francisco Conde. Francisco Botas, the managing director of Abanca, will serve as vice president. The other board members are Galician government ministers Valeriano Martínez and José González; the CEO of Reganosa, Emilio Bruquetas; board secretary and director of corporate governance and legal affairs at Abanca José Eduardo Álvarez-Naveiro; former president of the Xunta and Professor of Applied Economics at the University, Fernando González-Laxe; and Professor of Applied Economics at the University of Vigo, Santiago Lago Peñas. Eduardo Cortizo, the Head of Legal Advice at Abanca, will serve as board secretary.
The Xunta, Abanca, Reganosa, and Sogama form a new public-private organisation that will support “tractor effect” projects in Galicia
The Galician Association for the Development of Strategic Projects, AKA Impulsa Galicia, has been established to assist in developing business ideas that would have the best leverage effect for the Galician economy
It will foster the transformation of the economy using a ‘green’, digital model and attract investment, forging partnerships, and fostering collaboration between different institutions, with a special focus on SMEs
Its first objective is to support the development of projects that form part of the Galician nominations for the Next GenerationEU funding and to help them find future investors
Santiago de Compostela
April 28, 2021
The Xunta de Galicia, Abanca, Reganosa, and Sogama have formed a new public-private organisation that will support business ventures with the tractor effect that are using environmentally friendly and digital models to contribute to the stimulation, progress, and transformation of the Galician economy.
The Galician Association for the Development of Strategic Projects, AKA Impulsa Galicia, was established with the goal of encouraging production activity in our community by attracting investment, forging partnerships, and fostering collaboration between public and private institutions with a view to launch and consolidate new businesses ideas
This new entity will prioritise SMEs, ensuring that they are the main beneficiaries of these new “tractor effect” projects that will generate economic activity and value chains. It will also provide consulting services to improve the professionalism and consolidation of new business initiatives, including legal, financial, administrative, commercial, industrial, and management support.
The organisation will act as a driving force behind new initiatives, not an investor. It has a majority private ownership and is open to new collaborative opportunities. It has a founding capital of 5 million euros, with 38% provided by Abanca, 12% provided by Reganosa, and 10% provided by Sogama, making up 60% of the total. The Xunta de Galicia provided the remaining 40%.
During this initial phase, Impulsa Galicia will have one main goal: to assist in developing strategic projects with the potential to have a tractor effect that have been included in Galicia’s nominations for the Next GenerationEU funding, before helping these projects to find investors for further development.
Galicia currently has 354 projects (247 public, 107 private) vying for the funding, which could result in 20 billion euros being invested in the region.
Galicia’s candidacy includes initiatives for SMEs that could affect the entire industrial value chain. It would also support strategic sectors in Galicia to turn them into magnets that attract the rest of the community’s production network, with special attention being paid to SMEs and self-employed people.
