The Chinese company CALB's lithium battery factory in Sines, whose 2 billion euro project was launched in Lisbon on February 24th, could receive up to 350 million euros in support under the European incentive scheme for reindustrialization.

“[The European incentive scheme for reindustrialization and the acceleration of innovation and new technical skills] allows support of up to 35%, hence the figure of 350 million euros that has been suggested,” said Economy Minister Pedro Reis, speaking at the launch ceremony for CALB's new lithium battery factory project in Sines, at the Instituto Superior Técnico in Lisbon.

The project to build CALB's lithium battery factory for automobiles involves an investment of approximately 2 billion euros and the creation of 1,800 direct jobs and is due to start operating in 2028, on land in the Sines Industrial and Logistics Zone (ZILS).

(Source: RTP, on February 24)