Investment in Galicia reinforces Altri's sustainability strategy

01 out 2021

Today, Altri signs a Memorandum of Understanding (MoU) with the Society for the Development of Strategic Proxectos of Galicia (Impulsa) to study exclusively and in the context of a partnership, the construction of an industrial biounit, equipped with the best available technologies worldwide, in the autonomous region of Galicia.

The industrial biounit is expected to have the capacity to produce around 200,000 tonnes of dissolving pulp and sustainable fibers annually, mainly for the supply of the textile sector, as part of the “Next Generation EU” program and the National Recovery and Recovery Plan Spanish resilience, and the development of a technical, operational and commercial plan is also planned, in the context of the Sustainable Management Project for Galician Forests.

This industrial biounit will be able to supply the textile cluster of the Northwest Peninsula, contributing to the strengthening of the circular economy and decarbonization of an important economic sector such as the textile sector.

The conclusion of the definitive Agreement depends on the verification of a set of precedent conditions that, if satisfactorily verified - which is estimated to occur during the second half of 2022 - will create the bases for its formalization.

The implementation of the Project is part of Altri's 2030 Commitment, which includes ambitious goals aligned with the Sustainable Development Goals (SDG's) of the United Nations and based on the four strategic development vectors that focus its activity and future investments, namely Develop and Valuing the Forest, Investing in Operational Excellence and Technological Innovation, Valuing People and Affirming Sustainability as a Factor of Competitiveness.

Impulsa is a public-private consortium under Spanish law, formed by international entities headquartered in Galicia, called Society for the Development of Strategic Proxectos of Galicia, SL, whose main objective is to develop Galicia's strategic projects. Impulsa's shareholders are Xunta (40%), Abanca (38%), Reganosa (12%) and Sogama (10%).