Release date: 6 October 2002
Promoter – Financial Intermediary
Metro do Porto S.A. a publicly owned company set up to develop and operate a light metro system serving Porto and surrounding urbanised municipalities under a long-term concession.Location
Description
The system will consist of four lines with a total length of 70 km, have 67 stations and incorporate interchanges with existing suburban and urban transport networks (rail and bus). It will incorporate underground and surface sections, including sections of the existing suburban rail system, which will be electrified and upgraded to modern standards. The loan will complement an earlier EIB loan authorisation approved in 1998 and will be utilised to fund additional track sections, stations, interfaces and urban insertion of the network.
Objectives
To offer a modern and efficient form of public transportation as an alternative to private car usage, to reduce travel times and congestion on the existing road network, and more generally, to strengthen and integrate public transport networks in the area.
Sector(s)
Proposed EIB finance (Approximate amount)
Total financing of up to 50% of total project cost
Total cost (Approximate amount)
Estimated at EUR 1 700 millions
Environmental aspects
The project falls under Annex II of EC Directive 97/11, which is being complied with. A first EIA was carried out on the complete project before construction commenced and will be complemented by further environmental studies and approvals for the suburban section where tracks will be doubled. The project will have a positive effect on the environment through reduced car usage and pollution.
Procurement
Procurement procedures are in compliance with relevant EU directives and national legislation.
Status
Signed - 29/11/2004
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).