Chinese lithium factory in Sines could get €350 million in EU grants

 

The CALB automotive lithium battery plant project, involving an investment of around €2 billion and the creation of 1,800 direct jobs, is expected to be operational in 2028.

LISBON - The Chinese CALB lithium battery factory in Sines, in south western Portugal, whose €2 billion project was launched on Monday in Lisbon, could receive up to €350 million in support under the European incentive scheme for reindustrialisation.

"[The European incentive scheme for reindustrialisation and the acceleration of innovation and new technical skills] allows support of up to 35%, hence the figure of €350 million that has been put forward," Economy Minister Pedro Reis told journalists at the launch ceremony for CALB's new lithium battery factory project in Sines, at the Superior Technical Institute in Lisbon.

The project to build the CALB automotive lithium battery plant, involving an investment of around €2 billion and the creation of 1,800 direct jobs, is expected to be operational in 2028 on land in the Sines Industrial and Logistics Zone (ZILS). (...)