THE Spanish government will invest 17 billion euros in road and rail projects to create jobs and boost its recession-hit economy, announced Prime Minister Jose Luis Zapatero.
Over the next two years, the Special Infrastructure Plan will launch new passenger and freight rail projects and make improvements to the existing network.
“These projects will improve the efficiency and competitiveness of our economy, reduce transportation costs and better connect markets”
To ensure the scheme does not worsen Spain’s financial deficit, it will initially be funded by the construction companies involved.
They will then receive a share of the profits from 2014.
“These projects will improve the efficiency and competitiveness of our economy, reduce transportation costs and better connect markets,” said Zapatero.
Spain is in desperate need of new initiatives to fight its crippling unemployment rate.
It is currently at an EU high of 18.8 per cent following the collapse of its construction sector in 2008.
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