EIB and Adif AV investing €430m in Y Vasca Rail Project in Spain
The European Investment Bank (EIB) and Adif Alta Velocidad (Adif AV) have joined forces in a significant move to enhance Spain’s railway infrastructure.
A €430 million loan has been signed to construct the Y Vasca high-speed rail line, linking Vitoria/Gasteiz, Bilbao, and Donostia/San Sebastián.
This development is set to bolster regional and international connections, underscoring the strategic importance of the project for Spain and the broader Iberian Peninsula.
Strengthening Basque Country Connections
The Y Vasca high-speed rail line promises to revolutionise travel between the Basque Country’s three capitals, making journeys faster and more efficient.
The new line, stretching a total of 182 km, includes critical branches such as Vitoria/Gasteiz-Bilbao and Bergara-Donostia/San Sebastián. The pivotal Nudo de Bergara will connect these branches, ensuring seamless travel across the region.
A Broader European Network
Designed for both passenger and freight traffic on double high-speed tracks with standard gauge, the Y Vasca is integral to the Atlantic Corridor of the Trans-European Transport Network (TEN-T). It is a crucial link that connects Spain and Portugal’s rail networks with France and the wider European Union.
This infrastructure will significantly enhance Spain’s connectivity, tying the Basque Country to Madrid via the Madrid-Valladolid-Vitoria/Gasteiz high-speed line and linking to the Mediterranean through the Navarra Corridor.
Investment and Development Milestones
The EIB’s recent €430 million finance represents the final tranche of a €1.03 billion loan approved in 2017, which was increased to €1.43 billion in 2021. The overall financial support for the Y Vasca from the EIB totals €2.83 billion, reflecting the project’s strategic importance.
This project is one of the largest investments made by the EIB and Adif AV, aimed at improving rail connections between the Basque capitals, Madrid, and broader Europe.
Adif Alta Velocidad’s Vision
Adif Alta Velocidad is at the forefront of Spain’s transition to a more sustainable and intelligent mobility model. As the leading infrastructure investor in Spain, Adif AV is committed to developing a comprehensive high-speed railway network that completes key axes and trans-European corridors.
The company faces several challenges, including the liberalisation of passenger rail transport and digital transformation, but it remains focused on consolidating the railway as the premier mode of transport for the 21st century.
EIB’s Commitment to Sustainable Development
The European Investment Bank, owned by EU Member States, finances investments that align with EU policy objectives, such as competitiveness, innovation, sustainable development, and climate neutrality.
In 2023, the EIB Group, which includes the European Investment Fund (EIF), reported total financing signatures in Spain of €11.4 billion, with approximately €6.8 billion dedicated to climate action and environmental sustainability projects.
Project Highlights
The Y Vasca project encompasses several key elements:
- Connection to the Burgos-Vitoria/Gasteiz high-speed line.
- New access points and stations in Vitoria-Gasteiz, Bilbao, and Donostia/San Sebastián.
- Construction of the platform supporting the tracks of thirteen sections, with six still under construction, including the critical Nudo section.
The Future of Spanish Rail
Spain’s commitment to enhancing its rail infrastructure is evident in the EIB’s investments, which exceed €13.5 billion for high-speed rail to date.
This financial support underscores the importance of projects like the Y Vasca in promoting sustainable and efficient transportation.
Quotes and Insights
Teresa Czerwinska, EIB Vice-President, highlighted the project’s significance: “The Y Vasca high-speed rail line is a critical infrastructure project that will not only improve connectivity within the Basque Country but also enhance Spain’s links with the rest of Europe. The EIB is proud to support this initiative, which aligns with our goals of fostering sustainable development and regional cohesion.”
Adif AV’s representative, added: “Our mission is to lead the transformation towards a new mobility model that is sustainable, multimodal, and safe. The Y Vasca project is a testament to our commitment to developing a world-class railway network that meets the demands of the 21st century.”
A Cornerstone of Spain’s Transportation Infrastructure
The collaboration between the European Investment Bank and Adif Alta Velocidad on the Y Vasca high-speed rail line marks a significant milestone in Spain’s transportation sector. This project not only strengthens regional connections within the Basque Country but also integrates Spain more deeply into the European rail network, fostering economic growth and sustainable development.
As construction progresses, the Y Vasca line is set to become a cornerstone of Spain’s modern, efficient, and eco-friendly transportation infrastructure.
