In particular, against the debt of half a million euros, La Naval has EUR 129,722,475 in assets and rights, according to the Abertzale syndicate. These data show that the yard’s balance sheet is “adequate” and that it has sufficient resources to deal with its debts.

The Northern Naval Constructions Board (La Naval) asked two weeks ago for it to enter into liquidation, after the Dutch shipowner Vaan Oord refused to continue to build the draga boat at Sestao’s premises if an investor is not located.

The liquidation phase has accelerated the need for La Naval to locate an investor or to make another exit to its situation. They have asked the Basque Government and the Spanish Government to make an offer to rescue the shipyard, but Iñigo Urkullu refused outright last week in the plenary of the Basque Parliament: “European legislation says that we cannot give this type of financial aid.”

LAB reminded lehendakari that the government of Emmanuel Macron has done the same in France.

Industrial fabric of Bizkaia in kinka

In the opinion of LAB, the Bankruptcy Administrator’s report shows what is at stake: 404 ancillary companies are the shipyard's creditors, taking into account subcontractors, suppliers and service companies.

In addition to indirect employment, the trade union highlights “synergies” with other industries: “What is going to happen in La Naval is critical for the entire region of Ezkerraldea and for the industrial structure of Bizkaia.”

The City Council of Sestao, in a declaration signed on Monday by all the municipal groups (PNV, PSE, Sestao Bai ahal Da, EH Bildu and pp), stressed the importance of the yard for the industry throughout the region. The City Council has joined the demonstration called by the La Naval Works Council on Wednesday, 10 October.

Another sweet for speculators in the Nervión estuary

Why let a strategic company sink with clean accounts? That is the question that many people on the Left Margin do not understand. There are those who see behind the spectre of large urban projects.

The City Council of Sestao has had to make public that La Naval will close its doors to the recalification of the land on which it is located “if it is aimed at the speculative real estate operation”.

The shipyard is located in the large plain area of the bank won by the Nervión estuary and once reached 300,000 square meters, approximately half of the Zorrozaurre peninsula in Bilbao. The Government of Navarra plans an urban plan of 5,600 homes and 1,420 million euros in the old industrial district that has become an island.