The operation signed today makes it possible to put an end to the debt contracted 16 years ago by the City Council for the failed agreement of the old Sancho Dávila soccer field
The properties include an office building in the Polígono del Trocadero and several plots in La Cabezuela, Las Aletas and in the center of the municipality.
Both administrations have sought the ideal formula to pay off the debt without compromising the municipality's liquidity.
Cadiz, May 4, 2023
The Free Zone of Cádiz has seven new properties in Puerto Real after the State delegate in the Free Zone, Fran González, and the mayor of the municipality, Elena Amaya, have ratified today before a notary the agreement to make the liquidation of the agreement signed in 2007 and according to which the Puerto Rican City Council had to compensate the Cádiz Consortium 3.5 million euros corresponding to the payment for a former commercial promotion that was never carried out.
The agreement ratified today contemplates that the Puerto Real Energy Group (GEN), dependent on the City Council, assumes the debt with the Free Zone with payment in kind through the delivery of seven real estate properties located in different areas of the town.
Specifically, Zona Franca takes ownership of an office building that the public company has in the El Trocadero industrial estate, where it currently has part of its headquarters, a three-story construction including the ground floor and a total area of 573.83 m2. ; soils in La Cabezuela, which total around 1,500 meters between them; and another at the Las Aletas stop.
To this we must add three more plots worth more than 2 million euros and totaling approximately 3,000 square meters, in the commercial area of Huerta Santa, next to the old Teatro de Verano, very close to the center of the town, which They are delivered with the urbanization works fully executed.
The heads of both administrations, Fran González and Elena Amaya, had laid the foundations to find the ideal formula to compensate the debt without affecting the liquidity of the Puerto Rican municipality in a meeting held at the beginning of last year and already in November the Board of Directors of the Public Company Grupo Energético de Puerto Real (GEN) approved the operation that settles the debt that the Municipal Land and Housing Company (Epsuvi) had with the Free Trade Zone, through the delivery of the aforementioned properties.
The agreement affected the land of the old Sancho Dávila football field where a series of actions were going to be carried out that were ultimately not carried out and for which Zona Franca paid 3.5 million euros.
The delegate of the Free Trade Zone, Fran González, has highly valued today's signature, which “ratifies the agreement reached with the Puerto Rican City Council, putting an end to the debt contracted 16 years ago without endangering the liquidity of the city council. Actions like today confirm our management strategy to reorganize the Consortium and resolve contracts inherited from previous administrations that were weighing down our accounts.”
In this sense, González has recalled situations similar to that of Puerto Real, such as the one carried out in 2021 with the Los Barrios City Council, with which “we resolved an old agreement signed in 2007 that had become obsolete as the terms had not been met. described. This meant the recovery of 2.5 million euros paid at the time to the Barrio Consistory for a plot in Fresno Norte, which was significantly reflected in the Consortium's accounts," concluded the head of the Cádiz Institution.
