Crisal Cristais de Alcobaca is to receive over Esc 2,000 million in state aid from IAPMEI to fund part of its investment programme.
The project, part of a programme begun by the Portuguese company in…
Crisal Cristais de Alcobaca is to receive over Esc 2,000 million in state aid from IAPMEI to fund part of its investment programme. The project, part of a programme begun by the Portuguese company in 1994, is worth a total of Esc 5 billion. The government provided Esc 2.1 billion and the rest was financed by Crisal, from reserves and from bank borrowing. Some Esc 1.3 billion of the IAPMEI loan is interest-free, repayable over seven years with a three-year grace period. The remainder is made up of subsidies. Of these, some Esc 493 million will fund training. Crisal applied to IAPMEI for aid in 1994 and since then Crisal has invested Esc 2 billion. So far Crisal has made investments to increase its market share both at home and abroad.