Nissan's 'hub' criticizes the lack of flexibility in guarantees for aid

The so-called decarbonization hub, the largest industrial project achieved to occupy the Nissan facilities in the Free Zone, negotiates with the bank guarantees for an amount of about 80 million euros, the amount of non-refundable funds that has been assigned in the Perte del car to carry out your project.

Thomas Osborne
Thomas Osborne
27 October 2022 Thursday 01:44
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Nissan's 'hub' criticizes the lack of flexibility in guarantees for aid

The so-called decarbonization hub, the largest industrial project achieved to occupy the Nissan facilities in the Free Zone, negotiates with the bank guarantees for an amount of about 80 million euros, the amount of non-refundable funds that has been assigned in the Perte del car to carry out your project. This strategic plan for the recovery and transformation of the economy has awarded the hub a total of 107.8 million, between loans and subsidies, the third highest item after those obtained by Seat-VW and Mercedes Benz.

Sources close to that consortium, headed by QEV and Btech, criticized this Wednesday the "lack of flexibility" of the Spanish Government in demanding these guarantees, difficult to obtain when the project has not yet started and for the moment is not supported by any factory. The guarantees must be presented in a few weeks and have become a real obstacle to continue with the development of the hub.

The promoters of the hub regretted that the Ministry of Industry has discarded their proposals for greater flexibility that they had requested. “We made two proposals: that the guarantees be released as the projects were executed and that the calendar to provide them be made more flexible, but both have been rejected,” said sources from the group.

With the guarantees, the Ministry of Industry wants to ensure that the Perte's money is used for the announced investments and that there is no misuse of public funds. But while this requirement is easy for a multinational to meet, smaller companies have more difficulties.

Nissan's reindustrialization table plans to meet today to discuss the state of the situation, although the most important thing now is the Free Zone Consortium tender for the old Nissan facilities. It is about awarding the management of the space to a real estate and logistics company, which in turn will lease it to other companies, both industrial and from other sectors. The next day 31 closes the deadline for the acceptance of offers and the award is expected for mid-November. In the competition, the CZF requires a minimum investment of 100 million for the promotion or rehabilitation of industrial assets.

Apart from this contest, space has already been awarded to the motorcycle manufacturer Silence and Nissan itself, which will keep a technical center.