Portugal secures €3bn in investment – creating thousands of new jobs

Portugal has unveiled €3 billion of new projects – expected to create more than 2,330 new jobs – across a range of key sectors.

Among those areas seeing a boost are health, agri-food, chemical, energy storage and mining.

The biggest, announced by Prime Minister Luís Montenegro and delivered through Portugal’s investment and trade agency AICEP which has provided nearly €700 million of incentives, is a €2 billion lithium battery gigafactory to be built in Sines.

Designed to manufacture batteries for electric cars and energy storage, it will be delivered by Chinese giant CALB and create 1,800 jobs – 497 of them highly skilled.

The plant, details of which were originally announced two years ago, is designed to put Portugal in the driving seat of electric car battery manufacturing.

It is joined by a €514 million investment in a sustainable lithium refining plant in Estarreja, south of Porto.

It will be delivered by Portuguese firm Lifthium Energy and create 134 jobs – 34 of which will be for the highly-qualified.

Another 136 jobs will be created in Boticas, in the north of the country. A €313 million investment will see a unit built for the extraction and production of spodumene concentrate – an essential component for lithium batteries.

It will be built by British firm Savannah Resources.

A further €109.5 million investment will see Danish firm Topsoe build a factory in Sines – again related to electric batteries. It will see the creation of 62 jobs – a quarter of which will be highly-skilled.

Away from battery-related industry, €39.5 million will see Portuguese firm Everbio build a production plant, using recycled materials, for food and health packaging. Some 154 jobs will be created as a consequence.

And finally, €32.9 million will be ploughed into the construction of a dry pet food factory for dogs and cats in Rio Maior, north of Lisbon. Fifty jobs will be created.

Speaking of the investments, the Prime Minister said: “Those who remain rooted in immobility, those who are afraid of change, those who do not dare to take steps - steps that are safe, but that sometimes have to be endured in these moments of transition - those people are left behind.”

He added: “We want an economy with solid labour relations, clearly guaranteeing workers’ rights, guaranteeing job stability, but also ensuring that the labour market has sufficient flexibility for companies to be competitive.”

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