The Government of the Azores will invest a sum over 15 million Euros in public works to be carried out on the island of Terceira, thus complying with the commitment taken under the Economic Revitalisation Plan for the Island of Terceira (PREIT). The latter has already reached an execution rate of 55 percent regarding the implementation of measures only seven months after its publication.

The investments were announced by Regional Assistant Secretary of the Presidency for Parliamentary Affairs, Isabel Rodrigues, during the presentation of the press release from the meeting held by the Council of the Government in Santa Cruz das Flores under the Government's statutory visit to this island.

The Terceira Science and Technology Park is the largest investment in financial terms, representing an investment of nine million Euros. In this context, the Regional Government decided to authorise the launch of a public to award the respective contract work.

This infrastructure will contribute to the economic development of the island, allowing the creation of privileged conditions for the transfer of knowledge between science and research organisations and the regional business sector. It will also promote the creation of skilled jobs in scientific fields such as biotechnology, agri-industry as well as in the cultural and creative industries.

The Council of Government has also decided to authorise the opening of a public tender for the awarding of the contract work for Terceira Multisectoral Park - Expansion of the Trade and Exhibition Park.

This contract work has a base price of 4.4 million Euros and an estimated completion period of about 16 months.

The work covers the Multi-purpose Hall, outdoor infrastructures and landscaping interventions, providing the island of Terceira with an important infrastructure to support the dynamics of the economic fabric. It will contribute to the development of various sectors of activity, valuing and promoting endogenous products and services that have the potential to bring added value and create jobs.

In the social area, the Government decided to authorise the signing of a multi-annual contract-programme between the Azores and the Society for the Society for the Promotion and Renewal of Housing and Infrastructures (SPRHI). The contract is intended to regulate and promote the construction of 22 residential buildings in the village of Santa Cruz in municipality of Praia da Vitória with the purpose of reconverting and redeveloping the Nossa Senhora de Fátima Neighbourhood/Joaquim Alves Neighbourhood.

The investment volume associated with this contract surpasses 2.2 million Euros.
In order to carry out these interventions, the Government of the Azores will now move forward with the third phase or sub-phase of the redevelopment of the neighbourhood, complying with the provisions established in the Resolution of the Council of the Government of January 23, 2015 as well as with commitments take under the PREIT.