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Signature(s)

Amount
€ 289,000,000
Countries
Sector(s)
Portugal : € 289,000,000
Transport : € 289,000,000
Signature date(s)
11/12/2008 : € 89,000,000
11/12/2008 : € 200,000,000
Link to source

Summary sheet

Release date
20 August 2008
Status
Reference
Signed | 11/12/2008
20080126
Project name
Promoter - financial intermediary
Transmontana Motorway
EP - Estradas de Portugal
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
Up to EUR 325 million.
Ca. EUR 650 million.
Location
Sector(s)
Description
Objectives

The project concerns the improvement, to dual two lane motorway standard, of the IP4 between Vila Real and the Spanish border at Quintanilha in north-eastern Portugal through 18 km of new construction and 114 km of widening works as part of a Design, Build, Finance and Operate concession contract. This section of the IP4 lies on the TEN-T network. The concession also includes the rehabilitation and operation/maintenance of an additional 56 km of existing highway beyond the 138 km slated for improvement.

To complete the motorway link between Amarante and the Spanish border, following the recent award of the concession for the section of the IP4 between Amarante and Vila Real, thus improving the accessibility of one of the most deprived areas of Portugal.

Environmental aspects
Procurement

The project falls under the 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 Directive has been transposed into Portuguese law. During appraisal, the Bank will review the EIA process adopted to date by the grantor to confirm that it complies with applicable EU Directives, domestic legislation, and any relevant international conventions to which Portugal is party. Appraisal will also cover the proposed arrangements that seek to avoid or mitigate any negative environmental or social impacts.

The Bank will review the procurement process during appraisal to confirm that it complies with the applicable EU Directive.

Link to source
Summary sheet

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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Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

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Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

Zero tolerance against fraud and corruption

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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