14 December 2020 – One of the largest and most well-known textile industries in Vale do Ave, the former Arco Têxteis, in Santo Tirso, is being converted into a mixed-use development with shops, services and housing.
Arco Têxteis went bankrupt in 2015 with debts totalling 32 million euros. The property was acquired for 4.5 million euros by Rota Própria, a company that brings together several companies in Guima-Rães.
Rota Própria is transforming the site and estimates that the companies that settle there will invest up to 40 million euros. Currently, there is a Mercadona supermarket and a McDonald’s restaurant, which take up approximately 15,000 square metres.
Located in the centre of Santo Tirso, the new development has a total surface area of 100,000 square metres, with a covered area of 50,000 m2.
Original Story: Jornal de Negócios – Rui Neves
Translation/Summary: Richard Turner