The CRESC Algarve 2020 Operational Program approved the first applications for access to finance for companies with investments in goods or services with potential relevance in combating the Covid-19 pandemic.
"The decision of the CRESC Algarve 2020 Steering Committee allows European support to reach companies that have invested in new or improved investments, services, manufacturing methods, logistics or distribution", stressed the Regional Development and Coordination Commission (CCDR) from the Algarve.
The projects are led by small companies that have identified opportunities provided by the pandemic and have created, converted or adapted their services for the production and sale of masks, visors, advertising or even in the certification of products.
The total amount of European Union funds allocated to approved projects is 2 million euros and its full implementation will allow a total investment of more than 3 million euros in the Algarve and the creation or maintenance of several dozen jobs.
One of the projects cited by CCDR / Algarve is that of a factory planned for São Bartolomeu de Messines, in the municipality of Silves, of Ambition & Honesty – Equipamentos Médicos, dedicated to the labeling and sterilization of medical devices and other hospital articles and equipment; industry and wholesale and retail distribution of pharmaceutical preparations and articles, import and export, manufacture, assembly, packaging, execution, renovation, remodeling of medical, medical-surgical instruments and devices and other hospital articles and equipment; import and export, manufacture and wholesale and retail distribution of toiletries and cosmetics; manufacture and wholesale and retail distribution of textile articles and clothing.
Before the pandemic, Muse’s & Soul had an ongoing business to create a production line in Albufeira, which was intended for the manufacture of custom textiles.
However, the beneficiary decided to interrupt the project to install this unit, to convert it into an assembly line for surgical masks. The project includes remodeling works, purchase of automatic mask machine, individual packaging system, sterilization tunnel, computer equipment and product certification.
The Growing Particle project is aimed at producing a 70% alcoholic gel for hand disinfection, a non-corrosive bactericide for application on surfaces in contact with food and a surface sanitizer, with alcohol and bactericide, without chlorine, for application in various spaces and surfaces.
The other approved projects are from the companies LabPrint, World Wide Design, Pink Pigments, DOP – Digital Offset Print, Option Lightning Advertising, ZENonline and Janela das Ideias (in the photo), which are centered on the acquisition of equipment or reinforcement of the productive capacity for the production of masks, visors, barriers / partitions in PVC or acrylic, advertising and various supports for commercial establishments.
The CRESC Algarve 2020 Operational Program launched three notices designed to support projects in all areas of activity associated with COVID-19, for which it reserved an indicative amount of 12 million euros, in order to respond to immediate and medium-term needs of companies and institutions in the Algarve, with dozens more applications being considered, and more approvals should be known by the end of this week.
See here other notices that are still open within the scope of CRESC Algarve 2020.