AVE Y VASCA EXTENSION

Promoter – Financial Intermediary

ADIF

Location

• Spain

Description

The project consists of the construction of approximately 160 km of new Y-shaped high speed railway line between Vitoria, Bilbao and San Sebastian. It consists of two branches: Vitoria-Bilbao and Bergara–San Sebastián, connected in the Bergara node. The project will also include the sections within the three cities' built-up areas and integration into the existing stations, plus the section from San Sebastián to Irún, connecting with the French border, which will be upgraded to a dual-track gauge along 17 km.

Objectives

The project is expected to significantly reduce travel times between Vitoria, Bilbao and San Sebastian, making rail services more competitive and promoting 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 contributes to sustainable transport and climate change mitigation, in line with the EIB's Transport Lending Policy and the EU's and EIB's objectives on Climate Action.

Sector(s)

• Transport - Transportation and storage

Proposed EIB finance (Approximate amount)

EUR 1430 million

Total cost (Approximate amount)

EUR 4860 million

Environmental aspects

The project was included in the Spanish Infrastructure Plan 2005-2020, for which a strategic environmental assessment (SEA) was carried out. For most of the project the environmental and social aspects were analysed by the Bank for the AVE Y Vasca operation. This major part of the project was subject to an environmental impact assessment (EIA) and received the relevant development consents; the absence of significant impact on protected areas and species, in accordance with the Habitats and Birds Directives, was also confirmed by the competent authority. The appraisal of this operation will include an update on these environmental aspects, as well as analysis of the conformity with the requirements of the EIA, Habitats and Birds Directives of the sections not appraised during the previous EIB operation. The project will promote a modal shift from both road and air to rail and, therefore, 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 (Directive 2004/17/EC, or 2014/25/EU where applicable, as well as Directives 89/665/EEC and 92/13/EEC), as interpreted by the Court of Justice of the EU, with publication of tender notices in the Official Journal of the EU, as and where required.

Status

Signed - 19/10/2017