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Vigo, Xunta and Zona Franca Agree on New Valuation and Governance to Unblock Ifevi Expansion

Zona Franca is slated to cover the expansion cost.

Overview

  • An independent, homologated appraiser will be commissioned by Ifevi and selected under the coordination of its manager, Arsenio Prieto.
  • The governing board will be restructured with equal representation for the Xunta, Concello and Zona Franca, rotating presidencies between the two administrations and a standing vice presidency for Zona Franca, with decisions by unanimity.
  • Press reports indicate Zona Franca has committed roughly €18–20 million for the works, a figure presented as a reported pledge pending formal documentation.
  • A technical commission that includes sector stakeholders such as Conxemar, Navalia and the Salón del Automóvil will meet Monday to set the timeline for the functional and strategic plans.
  • Previous valuations that put Xunta assets at €20.6 million and Concello assets at €14.9 million had fueled the stalemate that the new appraisal is intended to resolve.