23 July 2019 – Richard D. K. Turner
The Portuguese state, together with private investors, will redevelop the region between Pedrouços and Cruz Quebrada. The area, totalling 64 hectares, will see the creation of a marina, research centres, a hotel and restaurants. The entities will invest 300 million euros in the coming decade. Most of the investment will be private (219 million euros), 25% will result from public-private partnerships (76 million euros), while the state provide five million euros, equal to 2% of the total.
The redevelopment will occur in three phases. First, 117.9 million euros will go towards building laboratories for the Portuguese Institute of Sea and Atmosphere (IPMA), temporary residences for researchers and research centres, restaurant areas, buildings for companies and the future Marina de Pedrouços. On these, the government believes construction will end by 2022. The next two phases will include a hotel, another marina, a business school and additional research centres, with a target completion date in 2030.
Original Story: Economia Online
- Rita Neto