The Portuguese government has annulled the concession of Silopor to the ETE Group after it did not pay an agreed deposit, thereby costing the state €40 million. The original tender dates back to 2011, following the liquidation of the company, which owned terminals and grain storage areas at Trafaria and Beato in the Port of Lisbon.
The ETE Group was awarded the subsequent concession, in a deal that would involve payment to the state of €40 million this year and a further €125 million over the 25-year concession. For this, the group was awarded storage capacity of 340,000 tonnes were divided between three areas:Trafaria (200,000 tonnes), Beato (120,000 tonnes) andVale de Figueira (20,000 tonnes).
In January, ETE was asked to immediately pay a deposit of €2 million, although the group sought a court injunction to prevent
this, although this subsequently failed, prompting the government to determine that the provisional award of Silopor to EFE had expired.