SODECO (Mining area development agency), was established in 1988 as a result of an agreement between the former National Institute of Industry, the Principality of Asturias, unions, political parties and local councils, for the economic development of the mining regions of central Asturias.

It’s shareholders are SEPI (the top industrial group of Spain) and the IFR (the Regional Development Agency of the Government of Asturias),both of them having a 50% equity participation through HUNOSA (the public mining company) and SRP (regional venture capital company), respectively.

Its objective is to help in the creation of alternative employment, assess and offer financial services to new companies as well as already existing ones, and to turn the projects in to reality.

The activities of SODECO have generated investments superior to 25.000 million pesetas, more than 150 million Euros, with a volume of employment superior to 2.000 new jobs.