On 15 March 2022, the Council of Ministers approved the Strategic Project for Economic Recovery and Transformation (PERTE) for the shipbuilding industry, a project based on public-private collaboration and focused on the transformation of its value chain through its diversification towards marine renewable energies and low-emission vessels, its digitalisation, the improvement of its environmental sustainability and the training of its employees.

The development of this project foresees a total investment of €1.46 billion with a public sector contribution of €310 million and a private investment of €1.15 billion. The Naval PERTE will contribute to the modernisation of the sector in Spain, increasing its competitiveness by around 15% and achieving an annual growth rate of 9%. It is expected to contribute to the creation of around 3,100 quality jobs, mainly in peripheral regions, thus contributing to the demographic challenge policy.

Objectives of the Naval PERTE.

It is envisaged as a comprehensive initiative on the transformation of the value chain of the shipbuilding industry to be implemented through its diversification, digitalisation and sustainability, with the following objectives:

• Maintain this sector's contribution to industrial sovereignty;
• Diversify activity towards marine renewable energies;
• Digitise the value chain;
• Increase environmental sustainability; and
• Improve employee training and capacity building.

Achieving the PERTE objectives will entail:

• The collaboration of different industrial sectors that will transform the industrial value chain of the naval sector, diversifying its production towards marine renewable energies and low-emission vessels.
• The improvement of the sector's digitalisation and sustainability, also improving its energy efficiency.
• The modernisation of its industrial network, creating and consolidating quality employment.
• The improvement of its competitiveness in international markets.