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The Giuliani Sage capital risk fund announced that through the company Becco España they, along with Interdin Corproate Advisory, are investing in a major project to build two biodiesel plants in Burgos and Madrid. Backing for the new company comes from the Caja de Burgos (20%), Antolin (5%) and the Giuliani Sage Fund (75%), which is headed by former NYC Mayor Rudolph Giuliani.
The annual short-term fuel production goal is 150,000 tons, and the mid-term objective is 500,000 tons. It was also announced that as a result of the collaboration between the Fund and Interdin, a second project is in the making to build Spain’s first solar plate factory in Aranda de Duero, which will create jobs for 100 people.
Although Giuliani has not revealed its stake in these projects, Caja de Burgos CEO, José María Arribas, said that his bank will contribute up to 10 million euros in the biodiesel plants, or 20% of their share in Becco. Giuliani confirmed that his fund chose Spain for the economic growth it has seen over the last five years and, because the country will play an important role in the global economy.
The Giuliani Sage fund, through Interdin, hopes to bring foreign capital into Spain and to broker those companies that want to do business in the States and Asia, especially Japan, where the fund has been active for the past few years. The former mayor added that they are talking to prospective clients in Spain and are already advising Indra on transport management and security matters, since much of their technology is with the U.S. and Japan. Giuliani assured that like Japan, they are planning to invest in five or six Spanish projects in up to five different industries and, to step up business relations between the U.S. and Spain.
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11/22/05
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