Galán: “Public-private collaboration, essential for countries’ progress”

The Executive Chairman of Iberdrola, Ignacio Galán, attended today the presentation ceremony for the expansion of the Faramax plant in Malpartida de Plasencia (Cáceres), in the southwest of Spain. This project, which involves an investment of €37 million, will substantially increase transformer manufacturing.

Ignacio Galán highlighted that this project demonstrates the potential of public-private collaboration, referring to the origins of Faramax, which was created through the joint work of the Extremadura Regional Government and the Extremadura Business Corporation.

“It takes public-private collaboration, dialogue and looking in the same direction. Together we can achieve great things, we can create thousands of jobs, it is essential for countries’ progress”, he said, recalling in particular the former presidents of the Extremadura Regional Government, Juan Carlos Rodríguez Ibarra and Guillermo Fernández Vara, now deceased, and the current president, María Guardiola, who attended the event, as contributors to this successful relationship.

In his speech, the Executive Chairman of Iberdrola stressed the role of electrification, which “is unstoppable”, but reminded the audience that it requires distribution networks because there is a latent demand that cannot be met due to the lack of such networks. He concluded by calling for regulatory frameworks that make these investments possible.

The founder and director of the company, Víctor Cioban, thanked the president of the Extremadura Regional Government for attending the event, as well as the Executive Chairman of Iberdrola, “one of those responsible for our being established in Malpartida de Plasencia and a key strategic partner”, Cioban added, before highlighting the commitment of the energy company.

Faramax has received the Iberdrola Convive awards and has been recognised as Iberdrola España’s Supplier of the Year in the Sustainability and Contribution to the Sustainable Development Goals category in its 2024 edition.