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Southeast: from exemplary waste management to risk capital

Southeast: from exemplary waste management to risk capital

Yurena Vega Wednesday, March 02, 2022

There was a time when waste collection was in the hands of family businesses. Little by little, due to the EU budget guidelines, companies disappeared, were torpedoed or ended up in the hands of larger groups owned by venture capital funds. And what does a venture capital fund want? liquidity. The service in the south of Gran Canaria is controlled by a Mexican businessman and the southeast is on the same path to deliver 148 million euros to a German group. There are only three Canarian family companies managing waste on the islands after the bankruptcy of Santana Cazorla: Martínez Cano, Ayagaures (Pérez Moreno) and Azertia.

The contracting table of the Commonwealth of the Southeast has the difficult task of deciding whether to believe the accounts of the financial dairy or to bet on industrial models, which is precisely what the municipalities of Santa Lucía de Tirajana, Agüimes and Ingenuity by joining the Reactiva Canarias Plan for Recovery, Transformation and Resilience, which points out: "the circular economy as a lever for industrial modernization, water management and its infrastructure, which will help identify the great opportunities and the precautions that we must take present in the recovery phase". 

That whole paragraph of verbiage ends up in the recycling bin because the Canaries have chosen to look at the reckless withdrawals of investment funds that respond to their shareholders abroad rather than to the industrial effort of the islands in exchange for 721 containers to put garbage that in In the case of large corporations, they are part of their liquid assets to be able to resell the concessions in the short term.

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