The documentation related to the investment of Inspire Capital Atlantic, created three years ago, referring to the Curral das Freiras cable car, will be made available for consultation on the Transparency Portal, on the JPP website.
“Bringing to the public all the documentary pieces that support the investment of the controversial Curral das Freiras Cable Car is to continue the policy of scrutiny of public affairs that has been a hallmark of the JPP.
It should be remembered that this is a 50-year concession with an additional 10 years of option, which will yield the Regional Government a ridiculous amount of 1.4 million euros at the end of this period. Based on this economic feasibility study, which is very conservative, it must be said, that the contract refers to a revenue of 5.1 million euros per year. This value times 60 years is 306 million euros. The Regional Government of Madeira, which guaranteed the expropriation of more than 20.1 metres of land from the private sector, receives only 6% of the revenues. Very little for so much revenue!
We believe that public scrutiny of this type of investment is necessary, which, like others, such as the public concessions for the Funchal Hospital car park or the “freebie” of ports that was in force for more than 30 years, are examples of businesses that harm public finances for the benefit of the interest of a large private company.
The feasibility study does not clarify in detail and legibly the company or technician who prepared it, nor their professional qualification,” says Élvio Sousa, leader of the JPP.
What is interesting, is that since the Regional Government has had to add a third party to its coalition, the other political parties, in particular the JPP and Liberal Initiative have become a lot more proactive in their decision making and commitment to the people.
Samantha Gannon
info at madeira-weekly.com
