INI (National Institute of Industry)

The National Institute of Industry was a state-owned entity founded in 1941 and replaced in 1995 by the State Holding Company for Industrial Participations (SEPI). Its objective was the development of industry in Spain and the creation of new companies during the period of Francoist autarky (1940-1956). This Institute fostered the emergence of state monopolies (Renfe, ENDESA, Tabacalera, etc.) and the financing of industrial projects with public funds. Its actions led to the regional polarization of industry around Catalonia, the Basque Country, and Asturias.