The Xunta de Galícia decided to assign the classification of Strategic Industrial Project to the sustainable fiber factory that the Altri Group could develop in that region. The high investment, as well as the creation of a significant number of jobs, deserved recognition for this project.

“This is an innovative and ambitious project to produce lyocell, a high-quality fabric that is more ecological than artificial fibers and is increasingly sought after by the textile industry around the world” said Alfonso Rueda, president of the Xunta de Galícia, in the announcement of the decision to attribute the classification of Strategic Industrial Project.

This classification makes it possible to process the direct attribution of the license for the installation of the production unit in Palas de Rei (Lugo), but there is also a reduction in administrative deadlines and other facilities to fast track the start of the project. The final investment decision will be taken during the first half of 2023.

“This statement is an important milestone for making the final investment decision and demonstrates the solid commitment of the Board of Galicia to Altri and the development of this unique project”, says José Soares de Pina, CEO of Altri.

After this classification, the Xunta now wants the Government of Spain to clarify whether this project, of great importance for the region and for Spain as it is a unique initiative in Europe, will receive funding from European funds, helping to turn it into reality.