Financial crisis threatens Alicante AVE high speed train

Financial crisis threatens Alicante AVE high speed train
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By h.b. - Oct 16, 2008 - 8:26 AM

AVE high speed train - Archive Photo EFE

Plans to place the train lines underground in Alicante are reported to be threatened.

The manager of the Avant company, which is managing the works for the arrival of the AVE high speed train in Alicante has warned that the plans to place the train lines underground in the approach to the station are now under threat.

Miguel Garulo told the Información newspaper that the current economic circumstances mean that land which was to have been sold to pay for part of the 600 million € budget for the works remains unsold, and banks are unwilling to provide credit.

It’s unclear as to whether a plan B will be followed keeping the train lines above ground, should the funding for placing them underground no longer be forthcoming.

Meanwhile the Mayor of San Isidro, the Socialist Fernando Morales, has said that he will block the AVE construction in the courts if the Ministry for Development ignores his appeals and makes no changes to the route of the high speed line.

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