With the payment of 9.1 million, the 14.8 million that were lent to acquire the land of the tobacco company are fully returned.
Another 15.8 of another Reindus of 25.9 remains to be repaid for the purchase of the facilities, with which 6 out of every 10 euros of the total debt of 40 million inherited from the previous management has already been returned.
The financial interest savings of more than 650,000 euros free up resources to develop new projects and promote the economic development of the environment.
The Cádiz Free Trade Zone has concluded an early cancellation operation of part of its Reindus debt for an amount of 9 million euros, which corresponds to the acquisition of the land of the former Altadis tobacco company, so that the amount has already been fully returned. aid of 14.8 million from the Ministry of Industry for the purchase of the tobacco factory's land.
This is an operation of enormous importance since with the payment schedule currently planned, the Consortium would have maintained the debt until 2029, in addition to saving 650,000 euros of financial interest with the operation.
With this, six out of every ten euros that the Government lent to the Consortium for the industrial complex have already been returned, given that of the purchase of the facilities, which was made with a loan of 40.7 million, only 15.8 remain to be returned. .
This debt of more than 40 million was one of the elements that most hindered the management of the Free Zone Consortium due to its commitment by the previous management, and is one of the reasons that forced the preparation of a Viability Plan underway upon the arrival to office of the current State delegate, Fran González.
This is a new step in the execution of strategic planning that established the reduction of total debt as a fundamental pillar of that Viability Plan for the period 2021-2025, a plan that is being successfully executed even before the end of the self-stipulated period. .
The significant financial interest savings achieved with this early cancellation allows resources to be released to develop new projects and investments in the province of Cádiz and continue with the push that is being given from the Free Trade Zone to the new industry 4.0 model, a more sustainable and committed model. and linked to innovation and technology.
The policy of reducing the Consortium's total debt has led to savings of 6.4 million euros in interest, thereby resolving medium and long-term treasury tensions and clearing up possible short-term liquidity problems. . This significant savings and the full compliance with the Viability Plan confirm the positive evolution of the Cádiz Free Zone and a positive impact on the increase in the entity's Working Capital Fund, with 18 million euros in 2023, reversing a trend negative 15 years ago.
These data confirm that the 2021 financial year marked a turning point in the evolution of the financial economic situation of the Consortium and that the implementation of the Viability Plan has driven a notable transformation in the financial health of the entity, providing greater flexibility to the Consortium to meet their short- and long-term obligations.
In this sense, it must be remembered that the Consortium has demonstrated effective management of public resources and has exceeded 100% of the degree of execution of the allocations granted to the Consortium through the Incyde Foundation in the Pluriregional Operational Program of Spain FEDER 2014 -2020, whose completion date was December 31, 2023 in the Zona Base and Incubazul projects.
In summary, the Cádiz Free Zone Consortium is in a solid and stable position thanks to compliance with its self-imposed Viability Plan. The notable reduction in debt, the increase in the Working Capital Fund and the efficient management of public resources have laid the foundations for a more prosperous future for the entity and for the socioeconomic development of its area of influence, the primary objective for which it was born. the Free Trade Zone of Cádiz 95 years ago.
