The Official Credit Institute (ICO) and Bankinter have granted over €11.5 million in funding to Lignum Tech, a Spanish company specialising in industrialised construction, to expand its production capacity and secure the supply of timber, one of its main raw materials.
The ICO will provide 70%, equivalent to €8.06 million, while Bankinter will finance the remaining 30%, amounting to €3.45 million.
The funds will be used to set up the company’s own timber drying and sorting line and to build an automated production facility for manufacturing industrialised façades and bathrooms. Through these measures, the company expects to increase its production capacity and reduce its reliance on third parties at a key stage in the supply chain.
The funding is provided through the ICO MRR Verde scheme, backed by European Next Generation funds under the Recovery, Transformation and Resilience Plan.
Juan Antonio Gómez-Pintado, chairman of Lignum Tech, noted that the agreement “lays the foundations for a more efficient and sustainable construction model” and will contribute to the development of a national industry linked to industrialised construction.
Manuel Illueca, chairman of the ICO, linked the operation to the financing of affordable housing, which forms part of the organisation’s strategic priorities. He also highlighted that industrialised construction helps to reduce construction times and improve the sustainability of residential projects.
