COFIDES has approved the granting of three co-investment loans amounting to €900,000, €500,000 and €100,000 to support the international growth and consolidation of engineering group SEG in Latin America. The financing will be used to cover operating costs and ongoing projects at its branches in Ecuador, Colombia and Argentina, within the infrastructure and public works sector.
The investment will be carried out using COFIDES’ own resources and the Foreign Investment Fund (FIEX), and represents a new milestone in the collaboration between both entities. COFIDES has previously supported SEG in several international projects in countries such as Colombia, Panama, Peru, El Salvador, Nicaragua and Romania.
SEG provides engineering and architecture services covering, among others, infrastructure design and development, topographic studies, projects related to planning, design and supervision of buildings, geotechnical studies and quality control for construction processes. The group has a strong international presence, with permanent operations in 16 countries.
The Corporate Director of COFIDES’ Investment Department, Miguel Ángel Ladero, stated that this transaction “strengthens COFIDES’ role as a key partner for SEG in its internationalisation process, particularly in Latin America. The consolidation of its structure in these markets will not only increase its competitiveness, but will also promote job creation and the transfer of technology, advanced methodologies and Spanish know-how to local markets”.
For his part, the Chairman of Grupo SEG, Ángel García-Cordero, highlighted that “the financing granted by COFIDES is a key support for the consolidation of our activity in Latin America and a fundamental endorsement of our international growth strategy. This financing allows us to strengthen our local structures in Ecuador, Colombia and Argentina, ensure the continuity of ongoing projects and continue to deliver high value-added technical solutions in the field of infrastructure and public works”.
He also underlined that “the confidence placed by an institution such as COFIDES in our business project significantly reinforces the solidity of Grupo SEG and endorses our track record, our technical capacity and our commitment to sustainable and long-term development in the markets in which we operate”.
Sondeos, Estructuras y Geotecnia, S.L. (SEG) is a Valencia-based engineering company founded in 1969, specialising in infrastructure design and development, topographic studies, planning, design and supervision of construction and buildings, geotechnical studies and quality control of materials required for construction processes.
The group employs more than 450 professionals, including staff hired through the consortia in which it participates. Its main clients are public sector entities and, to a lesser extent, private companies. It has a strong international presence in Mexico, Nicaragua, Costa Rica, Panama, Guatemala, El Salvador, Colombia, Peru, Ecuador, Chile, Argentina, Bolivia, Paraguay, Brazil, the Dominican Republic and Romania.
COFIDES is a Spanish state-owned company that manages government financial instruments, as well as its own resources and funds from third-party institutions, with the aim of supporting the internationalisation of the Spanish economy, attracting foreign investment to strategic sectors in Spain, promoting impact economy initiatives and contributing to the development of the countries in which it invests.
Its shareholders include, in addition to the Spanish State — which holds a majority stake — Banco Santander, BBVA, Banco Sabadell and CAF – Development Bank of Latin America
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