Spain implements fast-track system for major industrial investments

The Spanish Government has approved a new regulatory framework to accelerate large-scale investment projects through the Strategic Investment Committee. This initiative aims to reduce bureaucratic delays, allowing promoters to receive a preliminary declaration within one month and a final decision within three months, totaling a maximum of four months for the entire process.

This move follows models used in Galicia, such as Strategic Industrial Projects (PIE), which have successfully halved processing times. One major beneficiary of such streamlined procedures is the Chinese automaker SAIC, which plans to establish its first European vehicle factory in the port of Ferrol, alongside an industrial and logistics hub in As Pontes. The project involves an estimated investment of approximately 200 million euros, aiming for a production capacity of 120,000 vehicles per year and the creation of 2,300 initial jobs by 2028.

The government also clarified that SAIC’s facilities in Ferrol are compatible with planned offshore wind energy developments in the ports of A Coruña and Ferrol. While 100 million euros have been allocated for port infrastructure related to offshore wind and renewable energies, the administration stated that SAIC has not received funding from the Electric and Connected Vehicle PERTE.