Portugal telecoms to get 800 mln euros credit

LISBOA, May 27 (Reuters) - Portugal announced on Wednesday credit lines worth 800 million euros ($1.12 billion) from the European Investment Bank and four top local banks for telecommunications firms to invest in new-generation networks including fibre optic lines.

The ministry of public works said the EIB would provide half of the total credit, which is available from Wednesday.

Portugal Telecom (PTC.LS: Quote, Profile, Research) has already requested financing worth 200 million euros and is awaiting EIB's approval.

Sonaecom (SNC.LS: Quote, Profile, Research) is also interested in securing financing for its fibre optic lines, according to Sonae's (YSO.LS: Quote, Profile, Research) CEO Paulo Azevedo.

In January, as part of an anti-crisis stimulus package, the government signed an agreement with telecom operators calling for 1 billion euros in investment this year in the so-called new generation networks aiming to provide 1.5 million households with access to such networks. (Reporting by Elisabete Tavares, writing by Andrei Khalip; Editing by Rupert Winchester)