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Publish Date : 26-Apr-2019

The Council of Ministers approved a set of draft investment tax contracts to be concluded between the State and six companies, whose projects represent an investment of more than 89 million euros. At the press conference after the Council of Ministers, the Minister of the Presidency and Administrative Modernization, Mariana Vieira da Silva, said that this measure will allow "the creation of 287 new jobs by 2022".

The investments covered by these contracts are as follows: Investment of 8.3 million euros that provides for the creation of 15 jobs until 2021 of Fibope Portuguesa, Filmes Biorientados. Investment of 6.2 million euros with creation of 117 jobs by 2020 of Hutchinson, Flexible Tubes. An investment of 18.3 million euros which is expected to create 128 jobs by 2020 from Eurostyle Systems Portugal, Rubber Plastics Industry. Investment of 42.4 million euros which provides for the creation of 10 jobs by 2022 of Sonae Arauco Portugal. Investment of 9.5 million euros that promotes the creation of 11 jobs by 2020 of Panpor, Food Products. An investment of 4.5 million euros which is expected to create six jobs by 2020 of Wieland Thermal Solution.

Additions to existing contracts
Approval was also given to the draft investment tax contracts entered into between the State and Celtejo and Hikma Farmacutica. In the case of Celtejo, a Tejo pulp company, IRC credit was increased to 20%, with an associated investment of 82.5 million euros, while for Hikma Farmacutica the date of the end of the investment period was extended by six months.

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