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Signature(s)

Amount
€ 600,000,000
Countries
Sector(s)
Portugal : € 600,000,000
Transport : € 600,000,000
Signature date(s)
8/05/2010 : € 300,000,000
8/05/2010 : € 300,000,000
Link to source

Summary sheet

Release date
29 January 2009
Status
Reference
Signed | 08/05/2010
20040004
Project name
Promoter - financial intermediary
RAVE PPP 1 Poceirão - Caia

RAVE, S.A.

Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
Up to EUR 600 million.
Currently estimated at EUR 1550 million.
Location
Sector(s)
Description
Objectives

The project involves the construction, as part of a 40 year Design, Build Finance and Maintain (DBFM) contract, of (i) 176 km of double track high speed rail line between Poceirão, 40 km east of Lisbon, and Caia on the Portuguese/Spanish border as well as (ii) 92 km of single track conventional line between Evora and Caia. The project forms part of two priority TEN-T projects.

To promote regional development. To improve the connection between Portugal and Spain. To reduce travel times and vehicles operating cost, and enhance safety.

Environmental aspects
Procurement

The project falls under Annex I of the Environmental Impact Assessment (EIA) Directive 85/337/EEC as amended by Directives 97/11/EC and 2003/35/EC, and hence requires a full EIA. The possible application of Directive 2001/42/CE on Strategic Environmental Impact Assessment is to be assessed during appraisal. The Habitats Directive will apply as the line will cross in particular the Natura 2000 site of Caia, close to the border with Spain. The application of the Birds Directive and potential trans-boundary impacts, including consultations and agreements on mitigants, are to be assessed. The project may impact other existing or proposed protected sites. This, along with a review of the EIA process more generally, is to be assessed during appraisal.

An open call for initial tenders was made in the OJEU and Diário da República on June 2, 2008. Four initial offers were received on October 2, 2008. Two bidders were selected to enter into parallel negotiations with the public promoter prior to submission of Best and Final Offer.

Link to source

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

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The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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