Portugal has signed a major concession and secured the first tranche of financing for the new high-speed rail line between Lisbon and Porto. The EUR 875 million loan from the European Investment Bank (EIB) will support the construction of the Porto–Oiã section, part of Phase 1 of the project. The line is expected to reduce journey times between the two cities from nearly three hours to just over one hour.
The financing forms part of a broader EUR 3 billion EIB package approved under InvestEU, marking the largest single contract ever backed by the programme. A 30-year concession has been awarded to Avan Norte – Gestão Da Ferrovia de Alta Velocidade, formed by the LusoLAV consortium, for the design, construction, and maintenance of the 71 km segment.
The project is expected to serve up to 10 million passengers annually and is seen as a key component of Portugal’s sustainable transport strategy. It is also aligned with EU climate objectives and is included in the EIB’s 2024–2027 Strategic Roadmap.
During the signing ceremony, the EIB and Portugal’s rail infrastructure manager, Infraestruturas de Portugal (IP), agreed an Implementing Agreement to coordinate delivery of the line. Additional funding includes EUR 900 million from other institutions, EUR 480 million from the Connecting Europe Facility, and EUR 150 million from IP.
EIB President Nadia Calviño described the project as “a real game changer” for Portuguese mobility. Minister Miguel Pinto Luz called it “one of the largest projects our country will undertake this century”.
Phase 1 will ultimately span 143 km from Porto-Campanhã to Soure, including new connections to the Northern Line, a station in Vila Nova de Gaia, and a new bridge over the Douro River.
Share on:
