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The change of government leaves in the air investments in trains and airports

The president of Aena will leave his post despite having designed the plan for the future up to 2021

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The change of government leaves in the air investments in trains and airports

The change of government leaves in air multimillion-dollar investments of public companies or companies mainly owned by state like Aena, RENFE, Adif or ports of state. The strategic plan of airport manager 2018 -21, largest contract of purchase of RENFE's commuter trains for more than 1.5 billion euros or reprivatization of rescued toll highways are some of projects that executive relay leaves in Suspense.

And it is that, unlike large economic proposals such as pensions or minimum wages, which require laws that must pass through Parliament — where executive of Pedro Sánchez is in a minority and it is difficult to expect m to go forward — in plans of Public companies The officials elected by government have free bar, because y are directly dependent on departments such as Ministry of Development, Energy or economics.

Previously, with change in Moncloa re will be a forced relief in leadership of all se companies. The presidents of RENFE, Adif, state ports or National Lottery will leave office as soon as new executive is constituted and will be replaced by ors appointed by Socialist cabinet.

More doubts are raised by President of Aena, a state-owned company of 51% and only one of public companies that is publicly traded, so it is assumed that designation of its maximum responsibility depends on board of directors and not just on a political decision. However, it is certain that current president, Jaime García Legaz, will put his office to disposition as soon as socialist government is constituted, so that latter appoints a new person in charge of Society dependent on Ministry of Fomentation, informed country Sources who know decision.

Jaime García Legaz.

Aena is biggest hot potato for new government because, when quoted in markets, it is subject to an examination of which rest of public companies lack. The Council of airport manager approved last May 28 strategic plan for period 2018-2021, which includes an international expansion program and, above all, a generous dividend payment plan (80% of profit) that secured a revenue Minimum of 500 million annual for state in next three years.

Despite having passed placet of Aena Council, new managers can backtrack or reform plan's master lines. For moment, Minister of Development, Íñigo de la Serna, has suspended public presentation that was going to take place this Monday, and Aena itself has postponed "until new date" presentation to analysts scheduled for next June 7. In real estate sector, real estate developments in Madrid-Barajas and Barcelona-El prat, with hundreds of millions of euros at stake, are also in study phase.

Purchase of commuter trains

For its part, RENFE has suspended public competition for purchase of new locomotives and trains for an investment of 1.5 billion euros during this year and 2019 announced in March by Minister of Development, Íñigo de la Serna.

Nearby train.

This is first phase of plan of purchase of new trains that railway company presented, but which has not yet passed by board of directors, although sheets were prepared, informed country sources knowledgeable.

The delay in competition can be a serious blow to railway company, which urgently needs this railway material to meet its public service needs. For example, only in Madrid, plan will allow to change 60% of trains with which commuter service is provided.

It is also pending award of double contract of maintenance of trains that RENFE has taken to contest, which implies to carry out se works in a total of 420 vehicles of suburban and Avant for five years for a total amount of 450 million euros, according to Sources of company were reported. The double contract currently in Liza covers almost a third (30%) of total train Park of public railway Company, which totals some 1,360 units.

The only consolation in railway matters is that, with general state budgets approved, investment of 3 billion in high-speed (AVE) is assured.

Toll motorways

The government has a pending return to tender nine broken toll highways that it has rescued, and whose contest was scheduled for second half of this year. The Ministry of Development, through public company Seittsa, has already assumed management and operation of eight of toll highways, pending only AP-41 Toledo.

Highway Radial-5, in Madrid. For

The executive hoped to obtain 1 billion euros with rebidding of motorways, to recede its exploitation to private companies, according to last update of stability Plan sent to Brussels at beginning of month of May.

In addition, it will have to deal with judicial processes that will derive by calculation of patrimonial responsibility of Administration (RPA), compensation that State must pay to each one of concessionaires for investments that y carried out in building Those freeways, last calculation is 1.8 billion euros, but dealerships ask for more than double. Both PSOE and its national (can) and independence (PDeCat and ERC) supports have been very critical of this reprivatization plan, so it will be difficult to legislate on matter.


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