Madrid, Jul 19 (.) .- The cellulose company Ence is the value that fell the most this Monday on the Spanish Stock Exchange, 11.09% after last Friday the National Court annulled the 60-year extension granted to its factory in Pontevedra when estimating that the Government’s resolution did not justify that the paper mill, by its nature, cannot have another location.
At 10:00 am, the IBEX 35 lost 1.53%, 130.60 points, and stood at 8,377.20 integers.
Ence’s titles were exchanged at that time at 2.58 euros.
So far this year, the company has lost 23.59% on the stock market.
As the magistrates have explained in the ruling, the Costs Law requires that it be justified that the facilities subject to extension cannot be located in another enclave.
In the specific case of the Ence cellulose pulp factory, in the public domain strip between Pontevedra and Marín, the expert evidence shows that fresh water is a necessary and essential resource for the production process, as is proximity to other water resources to evacuate the spill.
However, it is not clear that “said plants, due to their nature or configuration, have to be located in the public maritime land domain, which is what the Coastal Law requires.”
Therefore, adds the room, the factory can be located in the vicinity of rivers or large bodies of water, but outside the coastal public domain.
(c) . Agency