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'20
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MEDIAWORLD
EIB to provide €205m to procure rolling stock for Spain
The European Investment Bank (EIB) has agreed to provide €205m to Adif Alta Velocidad to purchase rolling stock for the maintenance of the Spanish rail network.
The rolling stock will be used to accurate the development of the Mediterranean Corridor. The funds are being provided through two agreements. The EIB will provide €155m to finance the acquisition of four dedicated railway line inspection trains and 44 locomotives to carry out rescue operations, maintenance support and investigation across the rail network. This project is expected to enhance the reliability and quality of the rail service, as well as assist in the promotion of sustainable transport.
EIB has estimated that the project will provide temporary employment for 2,200 people to produce rolling stock and 60 permanent roles for its operation. The two organisations have signed the first portion of the financing worth €79m.
EIB has also announced its support for the Mediterranean Corridor, which is a part of the Trans-European Transport Network (TEN-T) that connects the main cities of the Spanish Mediterranean.
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