This financial backing will allow the Galician company to establish a production center in Benslimane , near Casablanca, Morocco, for the acquisition and installation of production machinery for furniture manufacturing. The total investment in the project amounts to €2,2 million.
The project falls under the COFIDES Impact program , which is part of the Recovery, Transformation and Resilience Plan funded by Next Generation EU . This program promotes sustainable initiatives linked to the Sustainable Development Goals (SDGs) , including reductions in financing costs for meeting sustainability indicators, such as obtaining quality certification.
Miguel Ángel Ladero , corporate director of the Investment Department at COFIDES, highlighted: “For COFIDES, it is very satisfying to accompany Martínez Otero in its international growth and to promote the strengthening of the company and the reinforcement of its competitiveness.”
For his part, Alejandro Valladares , president of Martínez Otero, expressed his gratitude for the support received: “At Martínez Otero, we would like to thank COFIDES for its support of our internationalization project, which is a fundamental pillar of our development in the coming years and will undoubtedly continue to generate new opportunities for collaboration.”
The booming construction sector in Morocco, with significant developments in housing, hotels, and shopping centers, provides a favorable environment for this type of project. This is the second joint project between COFIDES and Martínez Otero , following an initial collaboration financed by the FONREC fund.
Based in Pontevedra, Spain, and with over 80 years of experience, Martínez Otero employs more than 400 people and has a broad international portfolio spanning Europe, the United States, the Middle East, and the Caribbean . This new venture in Morocco strengthens its position in the global furniture design and manufacturing market.
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