COFIDES will ease the implementation of SEG Ingeniería in Romania, where the company has been awarded two contracts for the supervision of two stretches of motorway.
To this end, COFIDES has granted a loan of €1M from the Fund for Foreign Investment (FIEX). This funding will cover the operational costs of SEG Ingeniería's branch office in Romania, whose total investment amounts to €1.4 M.
COFIDES has driven SEG Ingeniería's international expansion since 2015 with 14 projects in several Latin American countries.
The project contributes to the achievement of Sustainable Development Goal 8, Decent Work and Economic Growth, as it has generated 48 jobs.
The CIO of COFIDES, Miguel Ángel Ladero, highlighted: "it is very gratifying for COFIDES to contribute to SEG Ingeniería's internationalization process and its solid growth abroad, which has enabled it to generate numerous jobs. After backing the company in its extensive expansion in Latin America, we are now pleased to support it in its internationalization in Europe as well."
SEG's vice-president, Jaime Fernández, stated that COFIDES has made a significant contribution to the company's international expansion, and that it has been able to open up markets in many countries that would otherwise have been very difficult.
ABOUT SEG INGENIERÍA
Sondeos, Estructuras y Geotecnia S.L. is a Valencian engineering company founded in 1969. It is specialized in the design and development of infrastructures, topographical studies, planning projects, design and supervision of construction and buildings, geotechnical studies and verification of the quality of materials necessary for any construction process.
The group has a workforce of more than 400 people, considering the contracts carried out through the consortia in which it participates. Its main clients are public companies and, to a lesser extent, private companies. It is widely internationalized and has a presence in Mexico, Nicaragua, Costa Rica, Panama, Guatemala, El Salvador, Colombia, Peru, Ecuador, Chile, Argentina, Bolivia, Paraguay, Brazil, Dominican Republic and Romania.
ABOUT COFIDES
COFIDES is a state-owned commercial company specialized in managing State funds that provides financing for private investments to achieve various public policy objectives. For over three decades, it has been managing resources aimed at supporting the internationalization of Spanish companies, and since 2021, the FONREC, a fund aimed at strengthening the solvency of Spanish companies severely affected by the COVID-19 pandemic. COFIDES has been assigned the direct management of two new financial instruments: the Co-investment Fund (FOCO), to attract foreign investment to Spain in activities mainly linked to green and digital transitions, and the Social Impact Fund, aimed at reinforcing the national ecosystem of impact investment. Additionally, COFIDES supports the Spanish Agency for International Development Cooperation (AECID) in managing financial cooperation resources. The Spanish state owns 53% of the capital, while the remaining 47% is held by Banco Santander, Banco Bilbao Vizcaya Argentaria (BBVA), Banco Sabadell, and the Development Bank of Latin America and the Caribbean (CAF).
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