RENFE RAILWAY UPGRADE AND ROLLING STOCK

The proposed operation is a framework loan consisting of various investment schemes including rolling stock and infrastructure.

The project aims to modernise, enhance the quality of service and provide additional capacity to Renfe Operadora, the Spanish state-owned railway operator.

The investment schemes included in the framework loan typically fall outside of the scope of the Environmental Impact Assessment (EIA) Directive. However, this will be further analysed during the appraisal, together with the potential impact (both positive and negative) of the investments. Compliance with the EIA directives, as well as any potential significant or negative impact of the project on areas included in the Natura 2000 network (according to the Habitats Directive 92/43/EEC and the Birds Directive 2009/147/EC), will be assessed during appraisal. All the investment schemes will support the competitiveness of rail – a sustainable mode of transport – which should lead to environmental benefits.

The Bank will require the promoter to ensure that contracts for the implementation of the project have been/will be tendered in accordance with the relevant applicable EU procurement legislation (Directives 2004/18/EC and/or 2004/17/EC as well as Directives 89/665/EEC and 92/13/EEC) as interpreted by the Court of Justice of the EU, with publication of tender notices in the EU Official Journal, as and where required.