Praia, Aug. 4, 2025 (Lusa) - CV Interilhas, the domestic maritime transport concessionaire in Cabo Verde, announced on Monday an investment of €19 million in the purchase of ships, following a "favourable arbitration court decision" that recognised breaches by the State in the concession contract.
“The court ruling allows €19 million to be invested in the sustainable development of the Cabo Verdean maritime sector and inter-island mobility, enabling the resumption of the strategic plan initially envisaged under the concession,” the company said in a statement.
According to the operator, the payments due and accumulated since 2021 had been withheld by the government because of doubts about their legitimacy, but have now been recognised as valid by the Arbitration Court.
“The end of this process represents for CV Interilhas the closing of a chapter that will be decisive for a new cycle that is beginning, one of trust and cooperation for the future of the country,” it added.
The amount released will be used to acquire the vessels Chiquinho BL and Dona Tututa, which until now have been operated on a charter basis, as well as to purchase a new vessel with similar characteristics, which is expected to enter into service this year.
On Thursday, during the debate on the State of the Nation, the MP from the African Party for the Independence of Cabo Verde (PAICV, opposition) said that a ruling by the Arbitration Court on 23 June found in favour of CV Interilhas and ordered the State to pay around €40 million for breach of the exclusivity clause in the concession contract.
According to the MP, the ruling will include compensation and other amounts related to operating costs, violation of schedules and suspension of tariff updates.
In response, in parliament, the deputy prime minister and minister of finance, Olavo Correia, said that the government does not agree with the decision and that it also has complaints about the service provided by the concessionaire.
“The government has a team in place and a specialised service to defend the public interest and the state to the utmost,” he said.
Lusa tried to obtain clarification from the Arbitration Court but has not yet received a response.
CV Interilhas is a company established in 2019 with which the Government of Cabo Verde has signed a 20-year concession contract for public passenger and cargo transport services between islands.
The company operates maritime connections between the islands of Cabo Verde with a fleet of four ships.
The firm is led by the Portuguese group ETE, which holds 51% of the share capital (through its subsidiaries Transinsular and Transinsular Cabo Verde), with the remainder held by 11 Cabo Verdean firms.
In Cabo Verde, the ETE Group has approximately 4,000 square metres of covered storage space, including temperature-controlled areas, and is present on the main islands.
Owned exclusively by Portuguese capital, the ETE group has its own operations in nine countries, employs more than 1,330 people and generates an annual turnover of more than €325 million.
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