In a cunningly timed agreement, the government and the German Submarine Consortium have scrapped a previous agreement to develop the Falesia Hotel in Albufeira.
Instead there is an agreement that the Germans will invest €220 million on eco-energy from wind power through an involvement in Ventiveste.
Project ‘Âncora’ sees Ferrostaal GMBH buy into the company owned by Galp Energia and Martifer to develop a number of wind farms in Portugal, according to a tightly worded announcement from the Ministry of the Economy.
“This agreement between the State and the German Submarine Consortium replaces the previous agreement on Falesia Hotel, Albufeira, which had been signed by former Economy Minister Alvaro Santos Pereira in 2012.”
The first agreement came long after the Germans were meant to have invested the €600 million contra deal balance in Portuguese projects. Having shelled out €30 million in bribes the consortium seems to have believed that this was enough and nobody would ever insist that it invests in Portuguese projects as per the signed agreement.
The Falesia hotel deal was scuppered when the hotel owners allegedly jacked the price up, although this was hugely convenient for the German company which has sat on its hands when it has come to honouring its part of the submarine deal.
Meanwhile, the questioning of everyone involved in the 2004 submarine purchase continues as a parliamentary committee listens to a litany of excuses, evasive answers and blame shifting. Everyone that is except Barroso, the then Prime Minister, who is far too important and busy to be dragged into the fray.