Government plans to sign off on remaining RRP agendas this month

The Portuguese government hopes to have signed off on 53 ‘mobilising’ projects which will benefit from EU funds in Portugal’s Recovery and Resilience Plan (RRP).

The Secretary of State for the Economy, Pedro Cilínio has signalled that in June documents will be signed for six company projects, releasing the necessary funds for the projects to advance.
Prior to this, another three agreements were signed in recent weeks, including the Autoeuropa project to produce a new hybrid vehicle, probably a new version of the VW ROC, from its plant at Palmela; the A-MoBeR-Agenda Mobilizadora for the Development of Green Mobility Intelligent Products and Systems from Continental Advanced Antenna; and also the Ascenza Agro project for the fertilisers sector, according to the junior minister in an interview with Jornal de Negócios and Antena 1.
The only one left to sign now is the project to build the new lithium battery factory which is currently being checked to ensure that it meets EU rules governing State support.
In the same interview, the secretary of State insisted that the German asset management and vulture fund Mutares which was selected to buy the electrical and transport systems company Efacec, will maintain two mobilising agendas that the company in Maia, near Porto has singed up to.
Portugal’s recovery and resilience plan responds to the urgent need of fostering a strong recovery and making Portugal future ready. The reforms and investments in the plan will help Portugal become more sustainable, resilient and better prepared for the challenges and opportunities of the green and digital transitions. To this end, the plan consists of 83 investments and 32 reforms. They will be supported by €13.9Bn in grants and €2.7Bn in loans. 38% of the plan will support climate objectives and 22% of the plan will foster the digital transition.