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.