Portugal officially commenced construction of its inaugural high-speed rail line on October 12, 2026. The 290-kilometer corridor connects Porto Campanhã station in the north with Lisboa Oriente station in the south, designed for speeds up to 300 kilometers per hour.
Construction and Route Details
The initial 71-kilometer segment between Porto and Oiã is being built by the AVAN consortium. The consortium is led by Mota-Engil and includes Teixeira Duarte, Alves Ribeiro, Casais, Conduril, and Gabriel Couto. Construction involves eight tunnels and 15 viaducts, including a combined road and rail bridge over the River Douro. A notable engineering feature is a tunnel beneath Vila Nova
de Gaia housing a station 60 meters below the city center. This station will have 405-meter long platforms and connections to Metro do Porto’s Yellow Line and the planned Rubi Line. It will also feature two office buildings and 475 parking spaces.
Project Financing and Funding
The first section’s budget totals €2.651 billion, with the Portuguese state contributing €628 million. AVAN consortium partners have invested €165 million. Financing includes €1 billion in loans from a syndicate of 13 commercial and institutional lenders over 25 to 28 years, and a €844 million 28-year loan from the European Investment Bank. The European Union supports the project
with €450 million from its Connecting Europe Facility, alongside €52 million in mezzanine funding.
Train Procurement and Infrastructure Management
National rail operator CP has prequalified Alstom and Talgo to supply 12 high-speed trains for the line, with contract award anticipated by the end of the first quarter of 2027. Management of the infrastructure falls under Infraestruturas de Portugal, which aims to complete the remaining two sections by 2032. These sections cover 60 kilometers from Oiã to Soure and 130 kilometers from Soure to Carregado near Lisboa.
Expected Travel Time Reduction
Upon completion, the full Porto to Lisboa high-speed line will reduce travel time from the current 2 hours and
48 minutes to approximately 1 hour and 20 minutes, enhancing travel efficiency between the two cities.
Official Perspective on Financing Model
Philippe Chantraine, head of the transport investment unit at the European Commission’s Directorate-General for Mobility & Transport, highlighted the Portuguese public-private partnership model as an effective approach. He noted that the model supports ongoing infrastructure investment, eases budget pressure, and reduces reliance on public funds, serving as a strong example for future projects.
