The Generalitat Valenciana executed the sale of a plot of land in the Parc Sagunt II complex to PowerCo, the Volkswagen Group's battery company, for the installation of the gigafactory in the Valencian Community.
The plot, the first to be sold in the context of the development of Parc Sagunt II, has nearly 1.3 million square metres and the transaction has been closed for a total of 63.66 million euros.
The president of the Generalitat, Ximo Puig, said that with the sale of this plot "an essential step has been taken in the process initiated by the Volkswagen Group for its industrial plan". The transaction was closed yesterday after approval by the board of directors of Espais Econòmics i Empresarials (EEE), a public company owned 50% by the Generalitat and 50% by Sepides, and the subsequent signing of the deed of sale between the management company of Parc Sagunt and PowerCo.
