This week, the European Investment Bank (EIB) disbursed an initial €875 million in funding to jumpstart the first high-speed railway in Portugal. The project’s first 71-kilometre section connects Porto’s Campanhã station to Oiã in the Aveiro district, forming phase one of the much-anticipated Porto–Lisbon corridor. Once complete, the high-speed line will dramatically reduce travel time between Portugal’s two largest cities. Notably, this tranche is the largest single contract ever signed under the EU’s InvestEU programme, underscoring the strategic importance of the investment for regional development and EU-wide connectivity.
Public-Private Partnership Secures Delivery
In tandem with the EIB funding, national rail network manager Infraestruturas de Portugal (IP) signed a 30-year public-private partnership (PPP) concession with Avan Norte, a consortium of prominent Portuguese companies, including Mota‑Engil, Teixeira Duarte, Casais, Alves Ribeiro, Conduril Engenharia, and Gabriel Couto. Under the agreement, Avan Norte will handle the design, construction, financing, and maintenance of the Porto–Oiã segment. Critical infrastructure elements include a new rail-road bridge over the Douro River, a subterranean station at Santo Ovídio in Vila Nova de Gaia, and major upgrades to the existing Campanhã rail hub to support high-speed operations.
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Transforming National Mobility and Sustainability
When completed, the Porto–Lisbon line will cut current travel time from three hours to just 1 hour and 15 minutes. Furthermore, it will serve up to 10 million passengers annually. The financing comprises of a comprehensive €3 billion financing package from the EIB, supplemented by €900 million from additional lenders, €480 million in EU grants via the Connecting Europe Facility (CEF), and €150 million from IP. Further, Portugal’s Infrastructure Minister Miguel Pinto Luz called the railway and the new Lisbon Airport the most transformative infrastructure projects of the century, critical to enhancing national cohesion and stimulating long-term economic growth.
A Strategic Milestone with Far-Reaching Impact
According to EIB Director General Jean-Christophe Laloux, the high-speed railway will boost sustainable transport, strengthen territorial unity, and advance Portugal’s climate transition. Carlos Mota Santos, CEO of Mota‑Engil, emphasized that the selection of Avan Norte, composed entirely of Portuguese firms, reflects both domestic expertise and international investor confidence.
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Interestingly, the rail line’s development is divided into three phases: Porto–Oiã, Oiã–Soure, and Soure–Carregado, with the Lisbon extension scheduled after 2030. This structure allows adaptive planning while aligning with the broader goals of the EU’s Trans-European Transport Network (TEN-T) Atlantic Corridor. The integration of urban design elements, such as the Douro bridge and underground stations, adds complexity but ensures long-term resilience. Ultimately, this project represents a transformative leap forward for Portugal’s transportation infrastructure.
Project Overview
Project Name: Porto–Lisbon High-Speed Railway.
Initial Funding: €875 million from the European Investment Bank (EIB).
Total Investment: €3 billion EIB loan, plus EU grants and national funds.
Phase One: 71 km section between Porto (Campanhã) and Oiã.
Delivery Model: 30-year public-private partnership with Avan Norte.
Consortium Members: Mota‑Engil, Teixeira Duarte, Casais, Alves Ribeiro, Conduril, Gabriel Couto.
Key Infrastructure: New Douro River bridge, Santo Ovídio underground station, Campanhã station upgrades.
Completion Goal: Full Porto–Lisbon route by 2030+; initial section in progress.
Travel Time: Cuts Lisbon–Porto journey from 3 hours to 1 hour 15 minutes.
EU Alignment: Integrated with TEN-T Atlantic Corridor for cross-border connectivity.
