103 million investment in the Algarve for 2012

Portugal’s government has set aside €103 million to invest in the Algarve in 2012, but several key projects have been suspended, including the Central Hospital and the completion of some road works such as the IC4 and the IC27. “The government’s intentions seem to be affected by the crisis,” the President of the Inter-municipal Community (AMAL) and Faro mayor Macário Correia told Correio da Manhã. The mayor said “there is a big public investment,” which he understands, “but the government hasn’t shown the same restraint in the state’s business sector.” He considers one of the negative aspects to be the delay in building the Central Hospital.

Algarve Car Hire PortugalMost of the budget for 2012 will be invested in generic projects, namely €36 million in works that will also be applying for EU funding, €13 million for the sustainable management of rural areas, and €11.6 million for competitive projects.

Of the named projects, €2.1 million is to be spent on the Tavira port, €985,000 on the Portimão port and €770,000 on the Olhão port. There is a further €1.4 million for the Algarve’s other ports.

The government has also set aside €2.5 million for the Faro riverside Park and €492,000 for making the Guadiana River more navigable. A total of €105,000 will be invested in the replenishment of sand at Dona Ana beach and a further €151,000 at Albufeira beach.

According to the Association of Construction and Public Works Companies (AECOPS), the value of public works adjudicated in the Algarve between January and the end of November in 2011, fell by more than 84 percent. On a national level there was an increase of 16.6 percent.

In 2011, 46 public projects were approved in the Algarve according to the association, which represented a total investment of €25 million.

In the housing sector, the Algarve suffered a reduction of more than half for the number of new licensed apartments between January and September 2011. More than 20 percent of the region’s unemployed comes from the construction sector while the number of licensed construction companies also fell by 7.5 percent last year.

source: algarvemais.com

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