Altri signs a first agreement with Impulsa Galicia to develop a viscose biofactory in Galicia.
The pulp company has announced that it will study the construction of a factory with a production capacity of 200,000 tons of sustainable fibers for the textile industry. This would require an investment of 800 million and 1,500 direct employees.
This is one of the strategic projects for the economic recovery and the attraction of European funds by the Xunta. Not only will it mean a new industry in Galicia, but it will also imply an improvement in forest management.
Thus, the project aims to fit into the Next Generation European funding program. The company Impulsa Galicia, made up of the Xunta, Abanca, Reganosa and Sogama, was created for this purpose. In addition to seeking the development of strategic business projects through public-private collaboration.
However, Altri announces that the final agreement will not arrive until the second half of 2022. To which it adds that the factory will be equipped with the most advanced and sustainable technologies on the market.
The landing of this company with a large project in Galicia coincides with the crisis that Ence is going through. Whose continuity in the Pontevedra estuary is in the air due to the cancellation of the extension of its concession in Lourizán.
Together with Navigator, the Portuguese group is one of the largest companies in the paper sector. This is shown by its figures. Since last year it exceeded 600 million in revenues.
Ence, on the other hand, accumulated losses of 192.4 million due to the impact of the National Court ruling, for which it had to set aside almost 200 million in provisions. Without this extraordinary loss, the results would have yielded a profit of 6 million.
Sources
La Voz de Galicia. 2021. Ribadeo se dirige a Altri ofreciéndose para ubicar su fábrica en A Mariña. [online] Available at: <https://www.lavozdegalicia.es/noticia/amarina/ribadeo/2021/10/19/ribadeo-dirige-altri-ofreciendose-ubicar-fabrica-marina/0003_202110X19C3991.htm> [Accessed 17 November 2021].
Economiadigital.es. 2021. Una de las grandes papeleras portuguesas desembarca en Galicia [online] Available at: <https://www.economiadigital.es/galicia/innovacion/mas-madera/una-de-las-grandes-papeleras-portuguesas-desembarca-en-galicia.html> [Accessed 17 November 2021].
Economiadigital.es. 2021. Altri, la pastera de la Xunta para los fondos europeos, ya vale en bolsa más del doble que Ence. [online] Available at: <https://www.economiadigital.es/galicia/empresas/altri-la-pastera-de-la-xunta-para-los-fondos-europeos-ya-vale-en-bolsa-mas-del-doble-que-ence.html> [Accessed 17 November 2021].