The EIB and Adif AV signed a €300m loan agreement on November 23 for the first tranche of the loan, which will finance the 282km section between Talayuela (on the border between Extremadura and Castilla-La Mancha) and Badajoz (on the Portuguese border). The line will connect the cities of Navalmoral de la Mata, Plasencia, Cáceres, Mérida and Badajoz to the Spanish high-speed network.
The new mixed traffic high-speed line will significantly reduce journey times between Madrid and Extremadura, a region with more than one million residents, and will also improve the connection between Spain and Portugal.
“The high-speed connection with Extremadura is one of the most important projects Adif AV is working on, as it will have a great impact across Spain, the Iberian Peninsula and Europe,” says Adif AV president, Ms Isabel Pardo de Vera. “The significant investment efforts required will help create jobs and enable economic, technological and regional development, which is even more important as the economy begins to recover in the wake of the Covid-19 crisis.”
The project also has support from the European Union’s (EU) European Regional Development Fund (ERDF) and the Trans-European Transport Network (TEN-T) programme.
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