Link: https://observador.pt/2026/01/22/privados-entram-nas-linhas-suburbanas-nao-vamos-esvaziar-a-cp-que-sera-operador-da-rede-de-alta-velocidade-diz-governo/

The Government mandated CP to submit proposals for sub-concession to privates of the operation of the four suburban services it currently provides in Greater Lisbon and Greater Porto, including the Sintra, Cascais, Azambuja and Porto lines.

The operator has 90 days to propose concession models with legal, financial and calendar solutions, as well as any obligations charging the purchase or payment of rolling stock. The announcement was made on Thursday after the Council of Ministers that discussed and approved a vast package of measures in the area of mobility ranging from surveillance and safety, to driving licenses and vehicle changes, and in which other important decisions were taken for the future of CP.

The sub-concession to privacys of a very important part of the current CP operation was described by the Minister of the Presidency of the Council of Ministers, António Leitão Amaro, as “one of the biggest reforms that the Government will have made in decades in Portugal”. The Minister of Infrastructure, Miguel Pinto Luz, asserted that “we are not implementing the CP in any of its functions. The State believes in a public company with quality of service, balanced accounts and compliance with other operators.”

With CP will be born a new railway operator to operate at high speed and saw approved the tender of another tender for the purchase of trains for this operation — 12 trains plus eight (in option). It will be an investment of 584 million euros that add to other contracts already approved represent a value of 1.6 billion euros.
Suburban lines to be granted to private individuals are worth half of CP's revenue

The question is the future of the exploration of the Sintra-Azambuja lines (which appear here integrated into a single route through the waistline connecting with the North Line), Cascais, the suburbans of Porto and Sado (which serves Barreiro, Moita, Palmela and Setúbal). These operations carry 166 million passengers per year and account, according to data from 2024, for half of CP's operating revenue (EUR 145 million at EUR 280 million).

The Minister of Infrastructure justified the choice of these four routes as having been proposed by the CP in a first study delivered to the Government in which the viability, the will of the market and advantages for the company of a concession to private individuals were pointed out. Miguel Pinto Luz highlighted that there are private railway concessions in Portugal, giving examples to Fertagus that operates between Setúbal and Lisbon through the bridge 25 April and the Metro of Porto (a light meter of surface).

The decision is planned for the first sub-concession of urban services in the first semester, with Miguel Pinto Luz admitting that a contest could be launched by the end of the year.

It is not clear at this stage whether the concession model will be the same for all these services, since they have very different realities and dimensions. Or even there can be integration of more than one route into a sub-concession The Sintra-Azambuja service is a giant within the CP operation with 99 million passengers, revenue of 76 million euros and a gross margin (EBTIDA) of 20 million euros. On the other side is Sado's line with only 4 million passengers. Cascais and Sintra-Azambuja are profitable. Port suburbans have a negative margin of EUR 14 million.

CP's subconcessions of suburban lines have already been in the past on the table, but in scenarios in which private individuals would have to invest in the renewal of rolling stock. The scenario is different now. From the contract signed between CP and Alstom for the purchase of 153 auto drivers (regarding the exercise of the option to buy 36 more units), 98 will have as destination the suburban lines. The first deliveries under this contract are scheduled for 2029 and their first destination will be the Cascais line being modernised.

Government instructs CP to order 36 more trains for urban service in addition to 117 (and delayed)

This renewal of rolling stock is being paid by the public operator, but with public support, notably through the State budget, which will support the largest share of EUR 416 million. There are also Community funds and funds from the Environmental Fund. The exercise of the option to buy 36 more units will cost another EUR 318 million, raising the value of this contract to more than EUR 1 billion. But it is likely that the needs for the renewal of rolling stock for CP will exceed these numbers because of the delay in the execution of orders, but also because of the growth of demand, which creates margin for private investment in these services.
CP will operate high speed and prepare international operation

As far as the purchase of high-speed trains by CP is concerned, there will be no State aid, the Minister of Infrastructure has clarified. It will have to be the public operator to obtain funding, in particular by using bank debt. The need to sustain this market acquisition was also one of the reasons for the operation of the historic debt of the CP, approved still during the socialist government, but implemented by the Executive of the AD.

State cleared CP balance sheet but still has compensation to pay. Operator could only execute 21.3% of the investment planned for 2024

Unlike the urban passenger service, which is covered by CP's public service contract, long-distance connections, in particular future high-speed operations, will have to operate on a competitive market basis. In the framework of the measures now adopted, the operator's concession contract was also extended from 2030 to 2034.

CP has now received the green light to launch the competition for 12 trains (with option for eight more) with capacity for 500 passengers and speed up to 300 kilometers per hour. Associated with this contract valued at EUR 584 million is the installation of a dedicated workshop for the maintenance of these trains. In addition to the creation of an operator for this service, CP will also prepare the entry into the international operation, particularly in Spain.

This Thursday was launched (again) the competition for the second private public partnership (PPP) of the high-speed line between Lisbon and Porto. The section between Oiã and Soure will have 61 kilometers of high-speed line and predicts the adaptation of the current station of Coimbra B and 18 kilometers of links to the North line. The investment is estimated at EUR 2.4 billion and the contract provides for a payment to private individuals of up to EUR 1.6 billion.

PCP initiates a contact and complaint campaign against privatization of suburban lines in Lisbon district