The provincial institution has confirmed its involvement in funding the arrival of the high-speed train in Bilbao, which will open up a huge opportunity in the city by burying the tracks. For years, the Council had maintained a reluctant position regarding participation in this operation.
“"The Provincial Council will finance the arrival of the High-Speed Train in Bizkaia."
This operation will not only allow the TAV to reach Bilbao, to a new underground station in Abando, but will also completely transform the current environment. It will eliminate the railway yard that separates the neighborhoods of Abando and Bilbao La Vieja, creating a new space of 130,000 square meters with housing, economic activity, parks, nurseries, residences, and large pedestrian areas.
Just over a month ago, the provincial official stated her willingness to enter into the financing. She specified that they would analyze this participation if the project addresses housing problems, creates space for economic activity and job creation, serves as a transport connection hub, and eliminates the trench that currently divides Bilbao in two.
“"It is a transformative project in which the Provincial Council will be involved due to its relevance."
The provincial institution has been analyzing the details of the operation and evaluating its role for months. They believe the project has sufficient definition, which has led them to make a firm decision. They are convinced that the project will bring many positive things for Bilbao and Bizkaia.
New fiscal measures to attract and retain talent in the territory were also announced, expected to be defined before summer. These measures aim to offer a fiscal incentive to people living abroad who would like to reside in Bizkaia. Additionally, reference was made to the anti-crisis measures launched by the three provincial councils. Since the end of April, 4,200 SMEs and self-employed individuals have requested deferrals of tax payments totaling 43 million euros.
For now, the financing percentages for each participating institution have not been defined. They are in discussions and negotiations with the Basque Government and the Bilbao City Council. The latest forecasts estimated the operation's cost at around 500 million euros, solely for burying the station. The general deputy reiterated the demand for compliance with construction deadlines, which are not expected to begin before 2028, and warned that no further delays would be tolerated.
To manage this complex and relevant operation, it has been proposed to use the Bilbao Ría 2000 company, which is participated by different institutions and has led major urban regeneration projects in the metropolitan area. It is believed that there is no need to invent anything new, as this company can perfectly serve as a meeting forum.
