Umicore Advances on Potential Battery Component Factory in El Musel

Umicore Advances on Potential Battery Component Factory in El Musel

Multinational’s Interest in Gijón for Major Investment

Umicore, a Belgian multinational, is progressing with preliminary steps for a potential significant investment in Asturias, Spain. The company is eyeing the development of a factory for electric car battery components, including cathodes, at the main dock of El Musel’s expansion. This prospective project, which has been under consideration for some time, could lead to a multimillion-dollar investment and substantial job creation.

Current Status and Dependencies

While Umicore’s top management has yet to make a final decision on establishing the facility in Gijón, preparatory activities are underway. These include securing a suitable location, necessary permits, and crucial financing. Sources indicate that the realization of this project largely hinges on obtaining subsidies. Upcoming aid opportunities, such as the Strategic Project for Economic Recovery and Transformation (PERTE) in the electric and connected vehicle sector, are expected to play a key role in funding the initiative.

Competition and Comparative Projects

Gijón is among several locations being considered by Umicore for its new factories, part of an extensive expansion plan. The company recently announced a €690 million investment for a similar factory in Canada, with an additional €500 million earmarked for expansion by 2030. This Canadian project, supported by government subsidies, is expected to generate around 600 jobs.

Potential Impact in Gijón

Should Umicore select Gijón for its new manufacturing plant, it would mark a significant industrial and economic boost for the region. The project, set to occupy all available land on El Musel’s main dock, underscores the strategic importance of Gijón in the evolving electric vehicle sector. However, the final decision and subsequent steps remain contingent on Umicore’s strategic planning and financial backing from government subsidies. icon

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