Lidl supermarket chain plans to invest 100 million euros in Portugal in 2018 | Progresiv
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. (www.algarvedailynews.com)
