Published by Global Banking & Finance Review®
Posted on October 17, 2025
1 min readLast updated: January 21, 2026
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Portugal's CP is set to modernize its fleet with 117 electric railcars from Alstom for €746M, enhancing service quality by 2029.
LISBON (Reuters) -Portugal's state-owned railway operator CP said on Friday it will purchase 117 self-propelled electric railcars from the French-Portuguese consortium Alstom/DST for €746 million ($871 million), in its largest acquisition to date.
Infrastructure Minister Miguel Pinto Luz said in a separate statement that "the government is betting on the railway" and the purchase would address long-standing delays in modernising CP's fleet and improve the quality of service for growing passenger numbers.
CP said the deal includes 118 million euros in co-financing from European funds and 212.5 million euros from the Portuguese Environment Fund.
Delivery of the first units is scheduled for 2029, allowing "the renewal and modernisation of part of CP's fleet and the reinforcement of its supply capacity," it added.
The contract also includes the construction of a rolling stock maintenance workshop in the city of Matosinhos in north Portugal.
($1 = 0.8569 euros)
(Reporting by Sergio Goncalves; Editing by Louise Heavens)
Co-financing refers to the practice of funding a project through multiple sources, where different parties contribute funds to achieve a common goal, often seen in large infrastructure projects.
Electric railcars are trains powered by electricity, typically used for passenger transport. They are known for being more environmentally friendly compared to diesel-powered trains.
Fleet modernization involves upgrading and replacing older vehicles or equipment with newer, more efficient models to improve performance, safety, and reduce operational costs.
The European Environment Fund is a financial mechanism established to support environmental projects and initiatives across Europe, promoting sustainability and ecological conservation.
Public transportation refers to systems of transport that are available for use by the general public, including buses, trains, subways, and other forms of shared transport.
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