The mayor of Setubal, Maria das Dores Meira, was in Macau to attend the ceremony
The agreements signed between David Chow’s Macau Legend Development Limited (MLD) and the Municipality of Setúbal at a ceremony held on July 7 aiming to establish a new integrated resort in the Portuguese coastal city seem to be in “troubled waters,” as a recent report from Portuguese news agency Lusa indicates that such agreements were not recognized by the Portuguese government and namely from the Portuguese Minister of the Sea, Ana Paula Vitorino.
The bombshell came in a reply to an enquiry from a Portuguese parliament legislator Nuno Magalhães to which the Ministry of Sea (MM) replied that no land transference has been done or even prepared, and that the MM is not aware of any agreement signage between the two parties, claiming also that the Ministry has received little information on the project.
“The Ministry of the Sea is not aware of the existence of an agreement signed between the municipality of Setúbal and the Macau company Macau Legend,” the reply from MM states, adding, “The MM was informed that a file [on the case], existing in the Port Administration and transferred from the previous board of directors, is summarized in an exploratory PowerPoint presentation,” further remarking, “there is also, in possession of the Port Administration, a brochure published by the APSS (Port Authority of Setúbal and Sesimbra) and the Municipal Council of Setúbal.”
Despite the apparent lack of information and absence of any developments on the projects, the Portuguese Ministry of the Sea notes that it is open to cooperation as long as the project does not interfere with the development of Setúbal’s Maritime Port, as stated by Vitorino “[The MM wants] to ensure that the growth of the Setúbal’s Port will not be jeopardized.”
The agreement ceremony was held in July and attended by the CE, Chui Sai On, among other top oficials
This is a port that is considered by the Portuguese Government to be “an anchor of the industrial development in the region.”
The concerns expressed by the Ministry of the Sea are related to a previously raised issue that the marina projected for the development of Chow could clash with the northern navigation of the Canal of Sado River, on which the Portuguese Government is planning a deepening project to allow the navigation of medium-draft vessels, as was also reported by local media.
Contacted by the Times on the current status of the project, a spokesperson from Macau Legend said that the agreements signed were subjected to pre-conditions to be fulfilled by the Setubal Municipality, adding that they are waiting for updates from the Portuguese party.
“According to the ‘Heads of Agreement’ signed earlier in July, there are several pre-conditions that the Setubal parties have to deliver before the project can formally commence. We have not received any updates from Portugal yet, but we are supportive of the government authorities and our business partners in their efforts to improve tourism facilities in Setubal,” the statement from Macau Legend reads.
The project presented by Chow will occupy a total area of 181,000 square meters including a 94,300 square meter marina that will serve as a pier and for other maritime purposes as well as an integrated resort with several hotels, restaurants, retail shops, apartments and other facilities. According to Chow, this amounts to a total investment of “at least 150 million Euros,” (approximately MOP1.3 billion) although local media have reported that the sum could reach EUR250 million, and that includes participation from the Macau company on the Amorim Group’s Troia Casino and that according to the Mayor of the Municipality could potentially generate the creation of 1,000 to 3,000 new job positions when all of the project’s phases are completed.
No Comments