The Spanish company TOT COLOR SA, dedicated to the manufacture of solvent-based paints, will begin its operations “during the month of September” in the Mariel Special Development Zone (ZEDM), Cuba’s main project to attract foreign capital.
The construction of the company’s administrative partner building has already been concluded and “the last details of the preparation for the start-up are being adjusted” now, the ZEDM said on its digital site.
The official information affirms that the modern plant of TOT COLOR S.A. “is equipped with a technology that meets world standards” and is “an ecofriendly enterprise, using low volumes of water and energy, in addition to exhibiting optimal efficiency in waste treatment.”
Its future productions already have “a high demand from important business clients” on the island, including the Cimex corporation, the state organization Cuba-Petróleo (Cupet), and the Transtur tourism transportation enterprise. In addition, the company plans to extend its offers to other industrial sectors on the island and work “in an economic line to sell to the population.”
Nueva empresa española se instala en zona especial de negocios de Cuba
TOT COLOR S.A. is a company based in Spain and got its approval as a Mariel user in January 2017, which is why its operations would start more than three years later, in a context marked by the coronavirus pandemic.
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According to Prensa Latina (PL) news agency, the Spanish company “is taking advantage of the ZEDM incentives to reduce costs and obtain benefits,” while it must contribute “to the productive chain with Cuban enterprises through the purchase of containers for paints and raw materials such as calcium carbonate, which will favor import substitution and technology transfer.”
Located about 50 kilometers west of Havana, the ZEDM started operating in late 2013 with the goal of attracting 500 million dollars’ worth of investments each year, a figure it has not been able to meet.
This enclave is regulated by special regimes and policies, and designed “to attract investments in the production of value-added goods and services, as well as clean technologies, to favor import substitution, the promotion of exports and the generation of sources of employment,” PL pointed out.
Solo 27 proyectos operan en la Zona Especial de Desarrollo del Mariel
Up to the beginning of this year, it had given the green light to 50 businesses worth more than 2 billion dollars, but only 27 of the 50 approved projects were in operation, and among them Spain was one of the most represented countries.
Authors
OnCuba Staff,
OnCuba editorial staff
