International Financing
The Spanish Development Finance Company (COFIDES) has formalized a financing agreement with Ecoasfalt, a company specializing in infrastructure. The aim is to support the company's growth and expansion plan in the Senegalese market.
The Spanish Development Finance Company (COFIDES) has reaffirmed its support for the national business sector by granting a €1,05 million loan to the Madrid-based construction company Ecoasfalt . These funds, channeled through the Fund for Foreign Investment Operations of Small and Medium-Sized Enterprises (FONPYME) , will be used to strengthen the industrial capacity of its subsidiary, Ecoasfalt Senegal , which has been operating continuously in the African country since 2013.
The core of this international investment is the construction and operation of a new plant dedicated to the production of asphalt emulsions and cold micro-surfacing . The SME's expansion project not only encompasses the expansion of its existing facilities but also the creation of a state-of-the-art technical laboratory. These new facilities will allow the company to conduct rigorous quality control and develop advanced paving solutions.
It focuses on energy efficiency and the circular economy
One of the most noteworthy aspects of the new infrastructure is its strong environmental component. The use of cold micro-surfacing represents a highly energy-efficient alternative compared to traditional mixes. Furthermore, the facilities will incorporate innovative asphalt recycling techniques. This will result in a significant reduction in raw material consumption, promoting much more sustainable management within the road infrastructure sector.
With this capital injection, Ecoasfalt aims to replicate in Africa the successful business model it already implements in Spain and Portugal. The introduction of these cold paving techniques will increase its competitiveness in bidding for road maintenance and rehabilitation projects, a key sector in a country with pressing needs for improved transport and connectivity.
The institutions involved emphasize the strategic importance of the transaction. Miguel Ángel Ladero, Corporate Director of Investments at COFIDES, stated that “this transaction demonstrates COFIDES’ commitment to supporting Spanish companies in their internationalization processes in Africa , fostering their growth and expansion into new markets.” Ladero also underscored that the organization “remains committed to contributing to the economic and sustainable development of the African continent.”
For his part, Ecoasfalt's CEO, Javier Santos, expressed his gratitude for "the support and assistance of COFIDES in this new facility, which will strengthen Ecoasfalt's presence in this area of West Africa."
Founded in Madrid in 1995, Ecoasfalt is a leading Spanish SME specializing in the production, application, and maintenance of asphalt solutions, geotechnical engineering, and technical consulting. The company currently maintains a strong production presence in Spain, Portugal, and Senegal, employing a global workforce of approximately 200 people.
| Financing Agreement Details | |
|---|---|
| Financing entity | COFIDES |
| Beneficiary Company | Ecoasfalt |
| Objective of the Agreement | Support the international growth and expansion plan. |
| Target Market | Senegal |
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