EIB signs €180m loan for ADIF
SPAIN: An agreement that will see the European Investment Bank lend a total of €180m to ADIF Alta Velocidad was signed in Madrid on June 26, in the presence of Development Minister Ana Pastor, EIB Vice-President Román Escolano and ADIF Alta Velocidad President Gonzalo Ferre.
An initial tranche of €100m is being made available under the loan which has a 20-year term and a five-year grace period. Infrastructure manager ADIF Alta Velocidad will allocate the funding to the installation of signalling and telecommunications equipment on the high speed lines for which it is responsible, including ETCS.
The Ministry of Development says that over 810 km of routes are to be equipped with ETCS, including the Valladolid – Burgos high speed line as well as the Vigo – A Coruña and Sevilla – Cádiz routes which have been upgraded with provision for conversion to 1 435 mm gauge in the future. ETCS is also to be installed on the suburban networks serving Madrid and Barcelona.