The government of Spain announces the extension of the subsidy program for the compensation of interest on loans for shipbuilding until the end of 2029. This is a very well-received program in the naval sector that last year contributed €41.14m, according to the ministry of industry and tourism.
Spain’s Ministry of Industry and Tourism will approve a decree to extend the validity of the subsidy program to compensate for the interest on loans for shipbuilding. The ministry announced on June 2, during the PYMAR general meeting, the financial support program designed to encourage the country’s shipbuilding and repair industry.
For the industry, 2024 was an exceptional year, where Spanish shipyards registered a total of 40 new contracts.
With respect to the order book, the private Spanish shipyards accounted for, at the end of 2024, 65 vessels under construction, generating more than 14 million hours of work.
This volume of activity represents the highest level for the industry since 2011.
According to the ministry, the program supports the industry by providing greater certainty and stability in the planning process of new projects.
“The government values the importance of the naval industry for our country and is committed to the diversification, modernization and productivity of the Spanish naval ecosystem,” said the ministry on June 2.
Spanish shipyards, according to the ministry, show their great capacity to design, build, transform and repair vessels with high added value, technologically complex and with a strong innovative component.
