THE SPANISH Ministry of Development announced on November 30 the creation of a new state-owned company that will be responsible for the government’s land transport infrastructure projects.

In addition, SEITT is to act as a conduit for private finance by raising debt on the capital markets. SEITT has been formed with a share capital of €500m, which is to be increased by €400m during 2006. The new company is expected to call tenders for road and rail projects worth a total of €1·24bn in the first quarter of 2006, including a new alignment at Camarillas (k102m) and upgrading works worth a total of €200m between Utrera and Jerez de la Frontera on the Sevilla - C