July, Sonae Turismo is a step closer to realising its construction projects at Troia and Lagos. Prime Minister Jose Socrates detonated two 30-year old concrete towers in Troia after demolitian experts had laid charges to implode the tower blocks. The 16-storey towers were some 48 kilometres south of Lisbon on a sandy peninsula. Sonae, part of the Swiss conglomerate Sonae SGPS S.A., plans to build a resort in the area, which is causing concern to environmental groups keen to preserve the natural beauty of the region.

The Sonae resort and three other proposed tourism developments are a bid to rival the southern Algarve region as a tourist destination. The Sonae development will provide vacation homes, casino, convention centre and 1,000 hotel rooms. It seems that much of Portugal’s unspoiled southwest coast is to succumb to large-scale tourism. At present Troia, which is famous for golf, has seven kilometres of white sandy beaches and is described as one of the last remaining natural paradises in Portugal, with a colony of dolphins in the Sado Estuary.

Sonae was established in 1959 as a timber derivatives company and diversified during the 80s. It now operates in 17 countries and employs around 58,000 in its telecommunications, tourism, gaming, transport, construction, real estate, venture capital and media businesses. The Troia casino complex will cost an estimated US$362 million and contain five hotels, an aquarium, sports centres and a yacht marina. (E-09.28.05)

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