Spain: EIB, 500 mln for high speed rail in Basque Country

Project of 150.5 km linking Vitoria,Bilbao-Obando, San Sebastian

22 June, 17:28

(ANSAmed) - BRUSSELS, JUNE 22 - The European Investment Bank (EIB) has granted a 500 million euros loan to Spanish rail company ADIF to finance the construction of the Y Vasca high-speed rail line.

The loan will help to finance the construction of 150.5 km of rail line linking the Basque Country's three capital cities of Vitoria, Bilbao and San Sebastián. The project also includes the construction of junctions with the conventional line and access to the existing stations of Vitoria, Bilbao-Obando and San Sebastian-Atotxa. 70% of the line will be built in tunnels and the project is scheduled for completion in 2017.

The project will improve the quality of rail connections between Madrid and the Basque Country and between Spain and France. The line is designed to encourage a switch from road and other forms of transport by offering the benefits of improved comfort and safety, shorter journey times and especially a positive environmental impact in terms of reduced air pollution, emissions and energy consumption.

These are important investments for both Spain and the European Union. As a priority trans-European transport network (TEN) that will connect the Iberian Peninsula to the rest of Europe, the project will also be supported by EU funding.

(ANSAmed)
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