SEG Engineering is implemented in El Salvador with the support of COFIDES

Promotion of Valencian engineering

COFIDES continues to contribute to the internationalization process of SEG Engineering in Latin America by financing two new operations.

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Through the first investment, COFIDES will contribute to defraying the costs of establishing the company in El Salvador, after it has won the public tender to carry out the feasibility study of the Pacific International Airport, located in the region of La Unión. With the second operation, COFIDES will support the financing of ongoing work generated in Spain by its activity in Peru, which is materialized through three branches and participation in 38 consortia.

 

Charged to the own resources of COFIDES (25%) and Fund for Investment Operations Abroad for Small and Medium Enterprises (75%), SEG Engineering will receive two co-investment loans worth 150.000 euros (El Salvador) and 470.000 euros (Peru). In this way, the SME will undertake a total investment of 215.000 euros for its installation in the Central American country and more than 670.000 to finance the work of its Peruvian subsidiaries.

 

Surveys, Structures and Geotechnics SL is a Valencian engineer founded in 1969 specialized in the design and development of infrastructure, topographic studies, planning projects, design and supervision of construction and buildings, geotechnics studies and quality verification of materials necessary for any construction process. Its main clients They are public companies and, to a lesser extent, private companies.

 

SEG Engineering is strongly internationalized and has a presence in Mexico, Nicaragua, Costa Rica, Panama, Colombia, Peru, Ecuador, Chile, Argentina, Bolivia, Costa Rica, Paraguay and Brazil

 

COFIDES has supported SEG Engineering's international expansion process since 2015 through nine operations. In the case of the Andean country, the SME also relied on the Company for its installation in 2016.

  

El president of COFIDES, José Luis Curbelo, stated that “it is very satisfactory to see the international growth of SMEs, especially those that contribute high added value to the Spanish economy and to the development of the countries where they invest and operate, as in this case, in El Salvador and Peru.” .

 

Vice President SEG, Jaime Fernández Gómez, has stated “that COFIDES financing for this type of operations has been very important in the growth of the SEG Group abroad” and “currently the Group is established in thirteen countries of Latin America".

 

CONTRIBUTION TO THE SDGs

These projects contribute significantly to the achievement of Sustainable Development Goals 8, Decent work and economic growth; and 10, Reduction of inequalities. According to SEG Engineering estimates, El Salvador's investment will generate employment for more than 25 people, a figure similar to what will be achieved in Peru. Likewise, both operations are important for two developing countries, whose joint contribution to national income exceeds 3,7 million euros.