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©Reuters. Power plans to invest 4,500 million and almost 4,200 jobs in the gigafactory
Valencia, Nov 10 (.).- The company Power HoldCo, of the Volkswagen group (ETR:), estimates an investment of 4,500 million euros in the period 2023-2026 and successive years in the battery gigafactory of Sagunto (Valencia) and the creation of almost 4,200 direct jobs, 92% of them production personnel and the rest management and administration.
In a first phase, during the construction of the plant, assembly of machinery and start-up of the factory, temporary employment would amount to 8,900 direct jobs and 10,200 indirect jobs on average per year.
Subsequently, in the production phase, employment would approach 4,200 direct jobs, 3,000 of them only in the development phase, according to the Public Consultation Document of the industrial initiative presented for declaration as a Strategic Territorial Project before the Ministry of Territorial Policy.
The Generalitat has started this Thursday the administrative processing of the battery gigafactory for electric vehicles that Volkswagen will build in Sagunto with the opening of the public consultation, whose objective is to speed up the deadlines thanks to the PTE urban planning mechanism.
Starting this Friday, and until December 12, it will be possible to consult and present allegations to the initiative presented by Power Holdco, and a public hearing will also be given to the affected municipalities. With the result of this process, the Conselleria will issue a suitability report that will be submitted to the Consell for its approval as PTE.
The inclusion in this mechanism of the power supply plant of 240 Gwh/year of Iberdrola (BME:), which will feed the gigafactory with renewable energy of photovoltaic origin.
The battery plant will be located in Parc Sagunt II, specifically in the IN-3 block, which occupies 1,293,806 square meters (m2), and the suppliers will occupy almost 1.4 million m2, so the area of land that will be sold from this industrial park will amount to 2.6 million m2.
INVESTMENT IMPACT
The estimated total investment is around 4,500 million euros in 2023-2026 and in subsequent years (an investment of more than 3,000 million is expected for the initially projected phase).
The direct impact of the megafactory on the GVA (Industrial Added Value) of the Valencian Community will be 650 million with 100% of the planned production, which represents an increase of 50% of the current GVA of the Valencian automotive sector (currently 11 %).
Productivity in terms of employment would be around 150,000, practically double the current ratio in the automotive sector; and the indirect effect on industrial GVA would range between 663 and 722 million.
Regarding public revenue, the Tax on Economic Activities (IAE) would accrue to the municipality of Sagunto 5.8 million annually in the period 2027-2031 and 9.5 million from 2032; and the Real Estate Tax (IBI) would reach 2.5 million.
The gigafactory will have a significant impact on regional and central treasuries, especially on VAT, personal income tax, corporation tax and those related to the increase in real estate activity in the area.
THE JOB
In addition to direct, stable and quality jobs, some 27,000 indirect jobs are estimated (in the metallurgy and metal products, chemical products, machinery and equipment, and machinery repair and installation sectors) and 11,000 induced jobs.
There is a commitment to apply equal opportunity policies among employees and conciliation programs, as well as programs in favor of diversity.
DRAG EFFECT OF THE VALENCIAN ECONOMY
The implementation of suppliers in nearby locations is expected to consolidate an electrical and sustainable automotive industrial conglomerate, according to the document, which also includes the “advantageous location” of Sagunto, on the axis of the Mediterranean and Aragon-Cantabrian corridor, to capture traffic from goods, in total about 400,000 tons per year in which the railway will have to be the protagonist.
In principle, the activities with the greatest innovative content are carried out at the Volkswagen plant in Salzgitter (ETR:) (Germany) faced with the challenges of solid electrolyte batteries and the introduction of cheaper and more abundant materials for the manufacture of cathodes.
But gradually “great challenges will be generated in terms of process and product innovations” that will have to be absorbed by the Sagunto plant and will have a greater impact on the Valencian innovative ecosystem.
Work is already underway on initiatives such as the construction of a training center linked to the gigafactory, with a planned investment of 15 million euros, to offer studies aligned with these subjects.
There is also a commitment to install an NMP-type solvent recovery and recycling unit with an efficiency of 90% and to reuse scrap in the production process.
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