Costs and Financial Results
As of 2007, the total cost of Porto Metro mass transit public transport system stands on 3,500 million euros - over 1% of Portugal's GDP. The first phase of the project alone, which was led by the mayors of several Grande Porto (Greater Porto) municipalities including Valentim Loureiro as a chairman of the state-owned company, was 140% more expensive than initially planned which means a slippage of over 1,500 million euros. The Porto Metro state-owned company has reported losses every year, reaching a record loss of 122 million euros in 2006.
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