The Spanish Government has definitively approved the informative study of the access corridor and the Bilbao-Abando station.
The High Speed Train (TAV) will arrive in Bilbao through a tunnel from the Nervión River, near Lapatza (Basauri), to the future Abando underground station. That is the option chosen by the Spanish Government. The Ministry of Transport, Mobility and the Urban Agenda (Mitma) has definitively approved the informative study of the access corridor and the Bilbao-Abando station.

Future underground station of Bilbao-Abando
The study published today in the BOE defines the route of arrival of high speed to the city of Bilbao. The tunnel will start in the Lapatza area, in Basauri, and will reach the current Zabalburu halt, from where it will enter the Abando station between screens.

Bilbao-Abando underground station. Source: Government of Spain
The action will also allow the urban transformation of the area. Among other things, it will generate 38,000 square meters of spaces for public use and another 28,000 square meters for housing and economic activities, and it will link San Francisco and Bilbao La Vieja to the city center, now separated by the beach of roads.
Last February the main Basque administrations and the Spanish Government signed the agreement for the underground arrival of the High Speed Train (TAV) to Bilbao.
The agreement contemplates that the Basque Government will be in charge of executing part of the civil works of the project through the formula of the ‘management entrustment’, by which it will advance the financing and will be in charge of carrying out part of the works, although later the Spanish Executive will deduct from the Quota the cost of the railway works since the TAV network is a state infrastructure.
Source: Eitb

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