A delegation comprising around 100 businesspeople and several ministers from Saudi Arabia is scheduled to visit Portugal in May, according to Jornal de Notícias. The trip, announced during a meeting between the Arab-Portuguese Chamber of Commerce and Industry, the Porto municipal government, and the Luso-Saudi Business Council, aims to explore investment opportunities in health, tourism, and real estate within the Porto region.
Luís Filipe Menezes, president of the Arab-Portuguese Chamber of Commerce and Industry, encouraged Saudi investors to consider repurposing the former Petrogal refinery, which has been inactive since 2021 and undergoing demolition since 2023. Menezes highlighted the site’s potential, comparing it to Cascais, and noted its suitability for large-scale projects. However, he emphasized the need for significant financial resources due to the high costs associated with soil decontamination.
