Project 17108 - Productive Innovation (Investment Contract Scheme - RCI)
I. Project Identification
Project Name: Priority Dolphin River Cruises
Project Code: 01/SI/2015
Main Objective: OT 1 – Strengthen Research, Technological Development, and Innovation
Intervention Region: NUTS II North
Beneficiary Entity: Douro Heritage, S.A.
Approval Date: 15-07-2016
Investment Start Date: 01-02-2016
Investment Completion Date: 31-01-2018
II. Typology
Creation of a New Establishment
III. Project Objectives
This project involves the creation of a new establishment aimed at operating two new river cruise ships, the Douro Elegance and Douro Serenity, for 8-day, 7-night river tourism cruises on the Douro River. These ships target a younger demographic compared to the traditional senior tourist profile of river cruises, allowing the company to enter this specific market segment.
Douro Heritage, established in December 2015, was specifically created to implement this project as part of a sustainable growth strategy, consolidating the DouroAzul Group’s expansion and internationalization.
The investment will introduce unique features in the vessels’ infrastructure and offer innovative complementary services, distinguishing them from other river cruise ships operating on the Douro River and in other river cruise destinations, particularly in Europe.
IV. Investment and Associated Incentive
Investment: €26,091,500
Eligible Investment: €25,861,500
Incentive: €9,051,525
Project 032851 - Productive Innovation (In Low-Density Territories)
I. Project Identification
Project Name: Priority Dolphin River Cruises – Expansion of Tourism Offer
Project Code: 08/SI/2017
Main Objective: OT 1 – Strengthen Research, Technological Development, and Innovation
Intervention Region: NUTS II North
Beneficiary Entity: Douro Heritage, S.A.
Approval Date: 16-02-2018
Investment Start Date: 11-06-2017
Investment Completion Date: 31-12-2018
II. Typology
Increase in Capacity of an Existing Establishment
III. Project Objectives
This project involves the construction and outfitting of a new river cruise ship, Douro Splendour, with a capacity for 126 people (63 rooms). The ship will operate 8-day, 7-night tourism cruises on the Douro River. It will complement two other river cruise ships (Douro Elegance and Douro Serenity), which have been operating on the Douro River since March 2017, each with a capacity for 126 passengers (63 rooms).
This project falls under the typology “Increase in Capacity of an Existing Establishment” as it equips Douro Heritage with an additional vessel, increasing its accommodation capacity by 50%, from 126 rooms to 189 rooms (63 rooms per ship).
IV. Investment and Associated Incentive
Investment: €13,206,895
Eligible Investment: €12,961,085
Incentive: €6,480,542.50
Project 039373 - Productive Innovation (Investment Contract Scheme - RCI)
I. Project Identification
Project Name: Tenderness Winds: A New Concept of Eco-Sustainable, Authentic, and Distinctive Tourism
Project Code: 06/SI/2017
Main Objective: OT 1 – Strengthen Research, Technological Development, and Innovation
Intervention Region: NUTS II Center
Beneficiary Entity: Douro Legend, S.A.
Approval Date: 31-12-2021
Investment Start Date: 02-04-2018
Investment Completion Date: 31-12-2019
II. Typology
Creation of a New Establishment
III. Project Objectives
Through this project, Douro Legend aims to make strategic investments in implementing new eco-innovative river cruise ships with a total capacity for 230 passengers (126+104). These ships are designed for highly eco-sustainable river tourism on the Douro River.
Douro Legend was established on February 26, 2018, in the municipality of Figueira de Castelo Rodrigo, to consolidate the DouroAzul Group’s growth and expansion strategy.
The project involves creating a new establishment in Figueira de Castelo Rodrigo, featuring investments that introduce a new structured and sustainable tourism concept. Targeted at environmentally conscious and demanding customers, the project combines innovative technologies absent in the global river cruise segment with an immersive and authentic experience exploring the natural richness of the Douro Riverbanks and the historical and cultural heritage of the Douro region, particularly Barca de Alva.
IV. Investment and Associated Incentive
Investment: €27,755,096
Eligible Investment: €27,315,096
Incentive: €4,033,253.40