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Lidl supermarket chain plans to invest 100 million euros in Portugal in 2018

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German supermarket chain Lidl has announced plans to invest 100 million euros in Portugal this year. The money will go into opening a "handful" of new stores in Lisbon, Porto and the Algarve as well as the renovation and expansion of a distribution centre in Torres Novas and the construction of a new one in Santo Tirso.

The managing director of Lidl Portugal said that the retailer is planning to invest in Portugal this year, 40% more than last year due to buoyant market conditions. "This fiscal year, we will invest 100 million euros", Massimiliano Silvestri told a meeting with journalists at Lidl Portugal headquarters in Sintra. The MD said that 2017 has been a positive year with Lidl Portugal registering "double-digit growth." In terms of market share, last year the supermarket chain had 8.6% of this Portuguese market sector, up from 8.2% in 2016.

Also last year, the company bought and exported 100 million euros of Portuguese products, an increase of 40% compared to 2016. "We really want to invest in this country", said Silvestri, noting that 100% of the fresh meat sold in its stores in Portugal is sourced in the country and that 70% of its stores’ fruit and vegetables are from Portugal. (algarvedailynews.com)







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