Mobilising agendas consortiums lose companies

 In Investment, News, Portugal RRP, Portugal2020, Restructuring

The President of Portugal’s enterprise association AEP has warned that several companies have left the consortiums leading cutting-edge modernisation and reconstruction projects deemed important for the Portuguese economy because they “no longer are of interest”.

Luís Miguel Ribeiro said that “there are several companies that have left the consortiums because they’ve “lost interest”. Some because they realised that the projects for which they had applied “were no longer of interest” or because in the meantime they had decided to “invest in another sector or have other partners”.
Portugal was awarded around €16Bn by the European Commission for its post-pandemic Recovery and Resilience Fund of which 144 consortiums initially applied for funding under the Mobilising Agendas programme for project aimed at modernising, digitising, and greening up Portugal’s economy and public services, making them more sustainable, agile and competitive.
Sixty-four projects or ‘agendas’ were selected from these consortiums, all of which were built around three structural vectors – Resilience, Climate Change and Digital Transition.
However consortiums Gran Cruz, Impetus, and Palbit leading five of the projects or ‘agendas’ have now lost some companies according to the online news source ECO that got the news from Portugal’s agency for competitiveness and innovation IAPMEI.
“Within this framework, to date we have registered five agendas with co-promoter adjustment requests” said a source at IAPMEI, meaning the lineup of companies organised into consortiums for projects had to be changed because some companies had quit.

Image: (formerly Defined Crowd) is one of the successful Portuguese multinational technology companies that is involved in government big ticket projects aimed at making Portugal a more competitive country.