Portugal may add Algarve to planned business park map

Portugal may end up with seven large business areas for multinational investment rather than the six previously outlined, after the government said the Algarve could also be included. Economy Minister Manuel Castro Almeida told parliament on Wednesday that the change matters because the plan is meant to create new locations for large companies as Sines no longer has room to host them.

Castro Almeida said the Algarve had not initially been counted because it already had a similar investment project linked to the ocean, but the region will be able to decide whether it prefers a dedicated business area or to keep that maritime focus. He said the government wants medium and large parks of between 3 and 8 square kilometres, or 300 to 800 hectares.

The current plan is for two areas in the north, one on the coast and one inland; two in the centre, again coastal and inland; one in Lisbon; and one inland in Alentejo, since Sines already serves the coast there. According to the minister, the agency for the PTRR recovery plan will coordinate the process, while the CCDRs, working closely with intermunicipal communities, will identify the sites.

Once the locations are defined, based on factors including terrain, transport access, water and very high-voltage power supply, Global Parques, an AICEP subsidiary that manages the Sines industrial zone, will help drive construction. Castro Almeida said municipalities may also lead the process if they wish, and reiterated that the government plans to find financing lines for local authorities to expand existing smaller business parks or create new ones.

Originally published at Eco.pt