INTERBIAK LAMIAKO TUNNEL

Promoteur – Intermédiaire Financier

INTERBIAK BIZKAIA SA MEDIO PROPIO

Lieu

• Espagne

Description

Construction of an underground road link "Lamiako Tunnel" connecting the two banks of the Nervion river in the outskirts of Bilbao, Spain. The road link will connect to A8 Santander-Bilbao TEN-T Core network Atlantic corridor, within the Bilbao Urban Node. The 3.9 km long link consists of a 3.2 km twin tube tunnel and connecting roads, including two interchanges and three at-grade intersections. Each tube will include two lanes one-way road. In addition, the western tube will integrate a single-track underground light metro over 300 m.

Additionality and Impact

The project addresses the market/network failure related to accessibility along the Core TEN-T road network. The project is expected to improve connectivity to TEN-T Atlantic Corridor in the TEN-T urban node of Bilbao. It will help to increase resilience of the transport network in the greater Bilbao region and will contribute to climate change mitigation through reduced travel in the area. It will contribute to social cohesion in the greater Bilbao region, where municipalities show different levels of economic and social development. The new link will reduce travel times, vehicle operating costs, road crashes and exposure of inhabitants to air and noise pollutants and will therefore improve the quality of life for local residents. Through its layout and multi-modal concept, the project will contribute to both climate change mitigation and adaptation.

EIB financing provides the client with competitive pricing, long tenor and flexible loan conditions, such as long grace and disbursement periods, which are therefore better suited for the implementation of the Project. EIB's financing also supports INTERBIAK in achieving diversification of funding sources and contributes to the stability of their financing needs. 

Objectifs

The project will provide with a new transport link across the Nervion river and serve as an alternative to a Rontegi bridge that, despite its high capacity, suffers from congestions. It will improve traffic conditions and reduce road traffic air emissions in five municipalities of the Greater Bilbao agglomeration and beyond. The project will contribute to climate change mitigation and adaptation, by providing with a resilient shorter road connection and by including an infrastructure for a future underground metro line. The project will contribute to the development of the TEN-T Atlantic Core Network Corridor within the Bilbao Urban Node and its port, and thus improve connectivity and inter-modality.

Secteur(s)

• Transports - Transports et entreposage

Montant BEI envisagé (montant approximatif)

EUR 200 million

Coût total (montant approximatif)

EUR 507 million

Aspects environnementaux

The project involves the construction of a new road in an urban environment. It is mostly located underground and does not intersect with protected areas. It falls under Annex II of the EIA Directive 2014/52/EU and was therefore subject to a full Environmental Impact Assessment (EIA) procedure. The EIA report was prepared according to the requirements of the national and regional legislation and was part of the public consultation. The competent environmental authority issued its favourable environmental decision on 13 November 2023.

Passation des marchés

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 (Dir. 2004/18/EC and Dir. 2007/66/EC), with publication of tender notices in the Official Journal of the EU, as and where appropriate.

Statut

Signé - 12/12/2023