The European Investment Bank (EIB) has approved a 1.5 billion euros loan – the biggest in its history – for the construction of the Trans Adriatic Pipeline (TAP), an around 878 kilometres project which will link Turkey with Italy, and in which Spanish firm Enagás is involved.
The Constitutional Court has declared null and void the agreement reached by the Spanish government in 2014 to resolve the problem of the Castor gas storage warehouse, the biggest in Spain, and the subsequent controversial €1.350 billion compensation given to the concessionary firm Escal (in which ACS has 66%). The ruling also says the compensation system set up allowing Enagás to charge consumers for the cost of Castor via their gas bill is illegal.
The European Commission has initiated proceedings against Spain for the limits it imposes on direct or indirect participation in Red Eléctrica (REE) and Enagás and for restricting voting rights. Brussels could take Spain to the European Court of Justice if the Spanish government’s response is not convincing and there could be a fine in the end.
MADRID | By Tania Suárez | A total of 17 Spanish companies belong to the 2013 edition of Dow Jones Sustainability Index (DJSI). Among them, it is especially remarkable the return of Telefónica SA and Abertis Infraestruturas SA, which were out of the index in previous editions. Furthermore, this year there are two more Spanish companies in the DJSI: ACS and FCC.
MADRID | The purchase includes 450 km of high-pressure gas pipelines and the international Irún connection.
MADRID | Ferrovial announced its construction subsidiary Ferrovial Agroman has been awarded several contracts to build 325 kilometres of gas pipeline in Spain for Endesa Gas. The contracts are worth €35 million in total. From 2012 until 2014, Ferrovial Agroman will build gas pipelines in the regions of Valencia, Castilla y León and the Balearic Islands. The infrastructure company said Ferrovial Agroman will execute 75 kilometres of gas pipeline in Alicante. In Castilla…