Loan from Sodena to Congelados de Navarra

Sodena’s support through EIB funds will partially finance the investment in cold installation

 

Sodena, a public company of the Government of Navarra, has recently granted a loan, through EIB funds, to the company Congelados de Navarra to financially support the construction of a new cold store within a business growth plan.

The Congelados de Navarra group began its activity in Arguedas in 98. Its continuous investment strategy, both in facilities and equipment, has been a fundamental part of the strong growth experienced by the company since its foundation. In 2008, the opening of its second production centre in Fustiñana was the definitive boost to place the group among the greats of Europe (2nd at national level and 5th at European level).

Thus, in 2015 the company decided to undertake a new three-year growth plan for an amount of 65 million euros focused on increasing its production capacity.

Since 2016, Congelados Navarra is carrying out this plan focusing on the increase of freezing, packaging and storage capacity; an activity that since last year accompanied a process of internal reorganisation and digital transformation aimed at said plan and development of the future business.

The support granted by Sodena to the Navarre company is specified in a loan to partially finance the construction of a new self-supporting and fully automatic ultra-freezing cold store. The total investment for the construction of this cold store, with a capacity for 87,000 pallets and product preservation at -25 ºC, amounts to approximately 30 million euros and will be completed this year.

The group’s workforce in Navarre amounts to 600 workers and it has the support of more than 2,000 farmers who provide vegetables to its plants, of which approximately 450 are from Navarre and supply a volume of 112m tonnes per year. Last year, it closed its fiscal year with a turnover of 175 million euros and it expects to reach 200 million this year. Since 2000, it has been carrying out investment activities amounting to 150 million euros and it exports 60% of production, with presence in Europe, America, Africa, the Middle East and Asia.