The developer and logistics operator VGP announced that it has formally acquired the plot of land belonging to the former La Naval shipyard on the Bilbao estuary.
The Belgian group finalised the acquisition of the land in the municipality of Sestao, located directly on the Bilbao Estuary, following the judicial approval of the asset liquidation plan of Construcciones Navales del Norte, S.L., initiated on December 18, 2020.
The project to revitalise the former shipyard covers 280,000 m2 of land, including some of its existing industrial buildings, the dry docks and the offices.
VGP’s plan for a new business park, with a primary focus on industrial activities, will maintain existing elements and buildings and thus preserve the iconic features of the former shipyard.
