Spain said Wednesday it would invest euro17 billion ($23 billion) in a rail and road project over the next two years in an effort to boost its recession-hit economy and create jobs.
Prime Minister Jose Luis Rodriguez Zapatero said 70 percent of the investment would go toward new passenger and freight rail projects, as well as improvements of the existing network. The remaining 30 percent will be dedicated to highway construction and maintenance.
He said the plan would not affect Spain's coffers for the moment as it would be financed initially by the companies contracted with funds from state credit institutions and private banks.
For more: Spain to invest billions in rail, road infrastructure | Markets | Market News | Canadian Business Online
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