Parc Sagunt II budget nearly quadruples in Valencian Government's 2026 accounts
The Valencian Government is cutting its instrumental public sector spending by 5.2% in 2026 as post-DANA emergency funds wind down, but the entity managing Parc Sagunt II, earmarked for PowerCo's gigafactory, sees its budget jump nearly fourfold.
Spending by the Valencian Government's instrumental public sector shrinks in 2026 to €3.452 billion, down from €3.641 billion the year before, a 5.2% drop driven by the winding down of emergency funds activated after the DANA floods of October 2024. Those floods killed around 237 people and caused an estimated €10.7 billion in damage across Spain, among the worst natural disasters in modern European history. The Valencian Emergency and Safety Agency absorbs the steepest cut, falling from €353.9 million to €139 million, while the employment agency Labora drops from €525.7 million to €455.3 million. Against that backdrop, Espais Econòmics Empresarials (EEE) stands apart: its budget jumps from €69.3 million to €267.3 million, almost four times higher. Two capital injections explain the leap, €29.9 million for infrastructure at Parc Sagunt II, an industrial park of almost 15 million square metres jointly developed by the Valencian and central governments, and around €11 million for the Sagunto Intermodal Platform. According to Valencia Plaza, both transfers advance the push to accelerate Sagunto's industrial hub ahead of PowerCo's planned gigafactory.