Portugal Commits €1.8 Billion to Nearly 200 New Trains in Largest Rail Investment Ever
Portugal signed its largest-ever investment in railway rolling stock yesterday, committing to the acquisition of nearly 200 new trains at a total cost of €1.8 billion. The deal, confirmed in Aveiro by Infrastructure Minister Miguel Pinto Luz, represents a generational shift for a national rail operator that had not received new trains for more than two decades.
The Numbers
The centrepiece is an expanded contract between CP (Comboios de Portugal) and the Alstom-DST consortium. An addendum signed on March 10 adds 36 urban service railcars — worth €318 million — to the 117 units already ordered in the base contract from October. In total, CP will acquire 153 trains: 55 for regional service and 98 for urban routes, at a combined cost of €1.064 billion.
Separately, the government has authorised the purchase of 12 high-speed trains, with an option for eight more, in a €584 million investment that signals Portugal's commitment to joining Europe's high-speed rail network.
"This is paradigmatic of the transformational change the current government has instilled in CP's management," Pinto Luz said. Between 2025 and 2031, he added, there would be no year without new rolling stock deliveries.
Why It Matters
CP's fleet averages over 40 years old. Anyone who has waited for a delayed Urbano on the Sintra line or squeezed into an overcrowded regional to the Algarve knows the consequences. The company transported more than 200 million passengers in 2025 — a figure achieved despite, rather than because of, its infrastructure.
The renewal will replace roughly 40% of CP's total fleet. First deliveries are expected in 2029, with the full programme completed by 2031. Crucially, the contract includes domestic production: a new workshop in Matosinhos will create 300 direct jobs, ensuring some of the economic benefit stays in Portugal.
What This Means for Expats
Commuters: If you rely on CP's urban networks in Lisbon, Porto, or Coimbra, this is the light at the end of a long tunnel — though you will need to wait until 2029 for the first new trains to arrive. In the meantime, existing capacity constraints and ageing stock will continue to cause delays and overcrowding.
Regional travellers: The 55 new regional trains should significantly improve connections between smaller cities and major hubs. Routes that currently run infrequently or with outdated rolling stock — think Braga to Porto, or Faro to Lagos — stand to benefit most.
High-speed hopefuls: The 12 high-speed units are part of Portugal's broader plan to establish fast rail connections, initially between Lisbon and Porto. This is a multi-decade project, but the rolling stock order is a concrete signal that it is moving forward.
Property considerations: Improved rail infrastructure historically drives property appreciation in connected areas. Towns along upgraded routes — particularly in the Minho and Alentejo — may see increased interest from buyers and renters who value connectivity without Lisbon or Porto price tags.
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