The Xunta, Galicia’s autonomous government, announced the land grants at a press conference in Vigo by the Regional Minister for the Environment, Territory, and Housing, Ángeles Vázquez. He said that three plots totaling 63,000 square meters had been awarded to the Hijos de Carlos Albo canning company. The company will set up an intelligent factory in the area.
In addition, he indicated that the company Vallejo Low Cost will locate a gas station on a plot of 3,300 square meters and that almost 2,600 have been awarded to the Arbinova Technology Group, which will focus on prostheses for animals.
In this context, the Regional Minister has specified that the plots have been granted in surface rights, which allows the beneficiary companies to use the land through the payment of 1.5% of the price of the plot during the first two years. Meanwhile, the Regional Minister has set a preliminary price of 2.5% in the next two years and 3.5% from the fifth year.
Specifically, the companies have been granted surface rights to the land for a period of 30 years which may be extended to 60 years. This means that companies, the installation of which can already begin, must carry out an industrial activity for at least five years as part of the land grant contract.
Born2Invest brings you the latest business headlines from around the world and across the spectrum of the trusted global network. Keep up to date with the latest stories, and content on a whole range of topics, from an African perspective, business to finance, industries, biotech and much more.
Industrial land at a reduced cost
Meanwhile, Francisco Conde, the Regional Minister of Economy, Employment and Industry, has assured that this initiative will allow companies located in Galicia to have industrial land at a reduced cost to continue their expansion, as well as to attract new projects. Thus, he highlighted the commitment of the Albo cannery to the development of an intelligent factory and emphasized the importance of betting on innovation to improve business competitiveness.
He also recalled that, through agreements reached with various municipalities, the Xunta will promote tax relief of up to 95% for companies and insisted that the Galician Government will continue its work in this line to fix the industrial fabric in the community.
Likewise, Ángeles Vázquez highlighted that the urbanization works of the first phase of the Logistical Business Area (LE) of the Plisan and the wastewater and drinking water treatment plants are also underway. In addition, he pointed out that the urbanization works of the second phase of the business logistics area have been put out to tender, where part of the awarded plots are located.
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in 20 Minutos, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
Analysts Forecast a Bitcoin Price Between $51,000 and $1 Million
if you look at the Bitcoin price forecasts of other well-known faces from the crypto industry, Alfred is not alone...
Forget Facebook (NASDAQ: FB) and Apple (NASDAQ: AAPL): Virtual Reality (VR) and Augmented Reality (AR) Investors Should Snap Up XRApplied (CSE: XRA) Instead
It’s no secret that AR, VR, and MR are hot investments right now. Facebook’s throwing the weight of 10,000 full-time...
PagaPhone Seeks to Facilitate Remittance Collection and Boost Financial Inclusion in Mexico
PagaPhone, which already has pre-authorization from the National Banking and Securities Commission to operate as an electronic payment fund institution,...
Rovi Shoots Up 72% its Profit in the First Half of 2021
The Spanish pharmaceutical company Rovi achieved a net profit of $60.3 million (€51 million) from January to June, compared to...
Four Million Round for the Italian Real Estate Crowdfunding Portal Walliance
The Italian real estate equity crowdfunding portal Walliance has closed a $4.73 million (€4 million) round. This is the third...