Foreign investment in Spain's struggling economy

The Galician government has just announced that the Chinese company Beijing 3E is contemplating a €270 m. investment in an oil recycling facility in A Coruña's outer harbour "Punta Langosteira" (located near Caión). The company has agreed to conduct studies on the feasibility of building the plant in Punta Langosteira, the provincial capital's outer harbor. Reactions were not long in coming. As soon as the news was out the provincial capital’s mayor, Carlos Negreira, said the agreement was “…the white hope for the Galician job market.”

Read more: http://technorati.com/business/article/hope-for-spains-struggling-economy/#ixzz1w8xtai5U

This news follows yet another optimistic announcement regarding a contract that was signed earlier this week between the Galician government and Pemex —the world’s 4th largest oil company —for the building of 14 tug boats. 

Read more: http://technorati.com/business/article/hope-for-spains-struggling-economy/#ixzz1w8tt79Qc

As the Spanish press shows, not everyone is in such happy spirits:

El País

Feijóo pide perdón a Pemex por las dudas de la oposición

europapress
Unha empresa china estuda invertir 270 millóns en Punta Langosteira

With the prospect of these major companies investing in the area, I see the land we're selling--and the apartment--as an even better real estate investment. Think about it. Should you let these opportunities slip you by?

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