The Chinese company CITIC Dicastal will install a component factory for the automotive industry in Águeda, which will involve an investment of 180 million euros and is expected to create between 500 and 600 jobs, according to the “Jornal de Negócios” on the 12th of December.

The Municipal Assembly of Águeda approved the sale of municipal land and the memorandum of understanding with the state-owned giant of Qinhuangdao to host this manufacturing unit of one of the 50 largest manufacturers of automobile components in the world.

The Aveiro district municipality will sell the land for 10 euros per square meter, raising 1.5 million euros. When the second phase of the project is completed, the company will occupy 150 thousand square meters.

(Source: O Jornal Económico)