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    Reference: 20150142
    Release date: 25 September 2017

    Promoter – Financial Intermediary

    REINO DE ESPANA

    Location

    Description

    Superstructure, electrification, signalling and environmental impact mitigation measures of a high speed railway line of about 120 km from Valencia to La Encina (Spain), part of the Mediterranean Core TEN-T Corridor.

    Objectives

    The project is expected to significantly reduce travel times. The new infrastructure will make rail services more competitive, hence the project will promote a modal shift from both road and air to rail. This is expected to generate time and vehicle operating cost savings, as well as environmental and safety benefits. The project is expected to increase the quality of rail services in Spain as well as promote travel by rail, thereby enhancing sustainable transport in line with EU objectives. The project is eligible under Article 309 point (c) "projects of common interest" of the Treaty on the functioning of the EU and will contribute to meeting the Bank's climate action target.

    Sector(s)

    Proposed EIB finance (Approximate amount)

    EUR 320 million

    Total cost (Approximate amount)

    EUR 385 million

    Environmental aspects

    The project is included in the Spanish Infrastructure, Transport and Housing Master Plan "Plan de Infraestructuras, Transporte y Vivienda PITVI (2012-2024)", for which a Strategic Environmental Assessment was carried out. Screening decisions, Environmental Impact Assessment and developments consents, as well as conformity with the requirements of the Habitats Directive and Birds Directive, will be analysed during the appraisal. The project will promote a modal shift from both road and air to rail and therefore it is expected to generate environmental and safety benefits.

    Procurement

    The Bank will require the promoter to ensure that contracts for the implementation of the project have been/shall be tendered in accordance with the relevant applicable EU procurement legislation (Directives 2004/17/EC, or 2014/25/EU where applicable, as well as Directive 92/13/EEC), as interpreted by the Court of Justice of the EU, with publication of tender notices in the Official Journal of the European Union, as and where required.

    Status

    Signed - 6/06/2018

    Disclaimer

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

    Related tags

    Spain Transport