Shyahsin Packaging invests €16.86 million in cosmetics packaging factory in Leiria
The project aims to set up an SHP Group production unit to manufacture high-end cosmetics packaging and will receive €2.86 million in support from Compete.
Shyahsin Packaging will invest €16.86 million to set up a production unit in Portugal for high-end cosmetics packaging and will possibly also obtain tax benefits, as it will sign an investment contract with Aicep.
The project, which will receive €2.86 million in support from Compete 2030, “aims to set up an SHP Group production unit in Portugal to manufacture high-end cosmetic packaging”, according to the description.
“The purpose of this production unit is to streamline the supply of products to the European market, while also playing a key role in SHP’s efforts to position itself as a global leader in the sector”, it adds.
The SHP Group, created in 1970, has four factories worldwide, two in China and two in Mexico, and says it has specialised in the production of cosmetics packaging for over 50 years.
The factory is already at an advanced stage of construction in Maceira (Leiria) and is scheduled for completion on 31 October 2026. It also has 17% support for the investment, which is fully eligible for European support.
However, this investment was considered to be of “strategic interest to the national economy or a specific region” in an order issued by the Minister of Economy and Territorial Cohesion on 5 August and, after analysis by Aicep, it was considered that it “meets the necessary conditions for the granting of financial incentives”.
In January, the Mayor of Leiria, Gonçalo Lopes, announced that the Chinese company was going to set up “one of the largest cosmetic product packaging factories” in the former Dexprom factory building, which will serve the “company’s main cosmetic companies”, namely L’Oréal, as reported at the time by Diário de Leiria.
Aicep negotiated with Shyahsin Packaging Industry Portugal — a company created in May 2024 — the maximum incentive to be granted, the rate and form of support, as well as the conditions for granting it, which allowed Compete to approve the €2.86 million support on 20 October. This investment is expected to create around 100 jobs.
The approval of the draft contract was published in the Official Gazette, but without any details on the financial incentives to be granted to Shyahsin Packaging, owned by Shamrock (HK) Limited, which carried out a capital increase of €8.5 million in cash in June this year.
