Envisión is waiting to find out if it will access financing from the Regional Incentive aid line to set up its gigafatoría cells for electric cars in Navalmoral de la Mata. The BOE has published this Monday a list of projects that will have these aids, and there are three in Extremadura, but the battery plant does not appear among them. In Envisión Spain they downplay this issue and attribute it solely to a question of deadlines since, as they have explained to this newspaper, the processing of their application has been completed “just before Christmas” and therefore they consider that there has not been enough time even if the documentation can be evaluated in depth. The company hopes to have a response to your request in the coming weeks.: “We hope there will be a response in about two months, because we are aware that the review process is relatively long,” Envision sources have indicated. In the meantime work is also being done on other alternative financing channels to carry out the projectin which the promoters foresee an investment of 1,000 million, but provided they can obtain financing for at least 400 million.
Los Regional incentives are financial aid granted by the General State Administration for productive investment to promote the business activity. The objective of these non-refundable grants is precisely to alleviate inter-territorial imbalances and encourage the development of less favored areas, including Extremadura. They are managed through Law 50/1985 and are included as promotable transforming industries and production support services, or tourist or leisure establishments. The Envision project would be included in the first of the categories.
Four million from the line of regional incentives for another three projects in Extremadura
“We are working on the documentation for other aid from the Ministry of Industry,” they have confirmed from the company. They do not specify it, but in addition to the Regional Incentives, other possible proposals were also being considered, such as the Support Fund for Productive Industrial Investment (FAIIP), also dependent on the department directed by Reyes Maroto.
The financing of the project is the main concern of the promoters after being left out of the Strategic Project for the Recovery and Economic Transformation of the Electric and Connected Vehicle (LOSS LOSS). “We will opt for the new call that was announced, when it comes out,” they maintain in Envision. The central government confirmed that there would be another new opportunity for this and other projects, after the fiasco of the first one, which failed to distribute even a third of the planned aid. Envisión was left out then because it barely had roots in Spain since he had just arrived with his project a few weeks before the application period for these grants ended. “We understand that then we would no longer have problems complying with the inconsistencies of this PERTE,” said the then president of Envision Spain, José Domínguez Abascal.
Parallel to the search for financing channels for the project, the company continues to take some steps in terms of the processing of “licenses” and “environmental permits”; and they are also carrying out preliminary work on the land that they plan to occupy in Expacio Navalmoral, with tastings on the ground to finish defining the foundation that their battery plant will require.
“We are making progress in what we can,” they corroborate in Envision Spain. This also includes the first steps to define the business structure that will assume “the head of the project”. It must be remembered that in mid-November they already published an offer in which they were looking for a project manager for the start-up of the new factory in Extremadura, with more than six years of experience in the production industry Spanish and experience in the field of batteries for electric vehicles.
Grants for 80 jobs in other projects in Extremadura
Yes, they have already secured this financing three other business projects from Extremadura, which will receive 4,017,964.23 euros in total of this line of State aid, according to the order of the Ministry of Finance and Public Function that has been published this Monday in the Official State Gazette (BOE). They will mean the creation of 88 jobs.
One is the one presented byr Badajoz Chemical Industries, SA, from Guareña, which has a planned investment of 8,701,588 euros, and has obtained aid of 1,218,222.32 euros. It will create eleven jobs.
In addition, in the province of Badajoz, the project of Lobón Tourist Exploitation. It has an investment of 2,254,385 euros, the aid is 608,683.95 euros and will generate five jobs.
Also, the project Natural Foods Corporation, from Navalmoral de la Mataprovides for an investment of 7,825,207 euros and the creation of 72 jobs, while the subsidy is 2,191,057.96 euros.