Transmontana Motorway

Promoter – Financial Intermediary

EP - Estradas de Portugal

Location

• Portugal

Description

The project concerns the improvement, to dual two lane motorway standard, of the IP4 between Vila Real and the Spanish border at Quintanilha in north-eastern Portugal through 18 km of new construction and 114 km of widening works as part of a Design, Build, Finance and Operate concession contract. This section of the IP4 lies on the TEN-T network. The concession also includes the rehabilitation and operation/maintenance of an additional 56 km of existing highway beyond the 138 km slated for improvement.

Objectives

To complete the motorway link between Amarante and the Spanish border, following the recent award of the concession for the section of the IP4 between Amarante and Vila Real, thus improving the accessibility of one of the most deprived areas of Portugal.

Sector(s)

• Transport

Proposed EIB finance (Approximate amount)

Up to EUR 325 million.

Total cost (Approximate amount)

Ca. EUR 650 million.

Environmental aspects

The project falls under the Annex I of the Environmental Impact Assessment (EIA) Directive 85/337/EEC as amended by Directives 97/11/EC and 2003/35/EC, and hence requires a full EIA. The Directive has been transposed into Portuguese law. During appraisal, the Bank will review the EIA process adopted to date by the grantor to confirm that it complies with applicable EU Directives, domestic legislation, and any relevant international conventions to which Portugal is party. Appraisal will also cover the proposed arrangements that seek to avoid or mitigate any negative environmental or social impacts.

Procurement

The Bank will review the procurement process during appraisal to confirm that it complies with the applicable EU Directive.

Status

Signed - 11/12/2008