Project started but stopped in 2015. Photo: Catarina Silva/JN

Portugal: Wuhan’s investment that fell apart

It was 2014 when the then Portuguese Prime Minister, Paulo Portas, announced with pomp and circumstance an investment of 27 million euros (MOP243 million) in Oliveira de Azeméis, in the north of the country.

Chinese company Wuhan Industries, the city at the epicenter of the cononavirus epidemic, intended to set up an industrial mold production plant, creating 60 jobs.

According to news released Thursday by Jornal de Notícias newspaper, investors have even started to “build three units with eight thousand square meters each in the Entrepreneurship Hosting Area of ​​Ul-Loureiro”.

The initial investment of 12 million euros, however, ended up not being followed up, “because the Chinese did not guarantee full financing conditions”, explained the Portuguese managing partner of Wuhan Industries to the Porto newspaper.

In 2015 the Wuhan ZhongYe group, which owns the company, was bought and the work stopped. According to a municipal councilor, the project is now in a “legal imbroglio”.