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.
- ALIVE AND KICKING: Trio of British rock legends wow the festival crowds at Lisbon’s Nos Alive - 17 Jul, 2019 @ 17:18
- OPINION: Amid Champions League final ecstasy and agony, Brit fans in Madrid did us proud - 7 Jun, 2019 @ 14:48
- ON THE CHEAP The Germans in Madrid wishing for Champions League final success - 1 Jun, 2019 @ 14:31
- OPINION: Expats will make all the difference in tomorrow’s elections, both as candidates and in the polling booths - 25 May, 2019 @ 11:45
- IN PICS: This paradise retreat has won international acclaim and is just 15 minutes from Spain’s Costa del Sol (read for special Olive Press offer) - 17 May, 2019 @ 09:37
- EXCLUSIVE : Over 96% of Madrid’s hotels FULL as prices skyrocket to €26,000 for two nights on Champions League weekend - 11 May, 2019 @ 16:26
- Freddie Starr dies in Spain - 9 May, 2019 @ 23:50
- Madrid’s born-again Gran Hotel Ingles is the lap of Belle Epoque luxury, discovers Olive Press editor Jon Clarke - 5 May, 2019 @ 10:08
- Witnesses describe ‘bloodbath’ after British soldier ‘glassed by her pal’ in Mallorca club - 16 Apr, 2019 @ 10:45
- La La lovin’ it! New organic olive oil ‘experience’ in Ronda - 18 Mar, 2019 @ 14:27