Tag Archives: cartagena

Vera – Cartagena toll road goes bankrupt and will be nationalised

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The company behind the Vera – Cartagena toll road will be wound up and the road be nationalised, the state government has announced today. OK, the company itself went bankrupt a few years ago, but today any hope of rescue has been abandoned and the company will be closed down. In all, eight bankrupt toll roads across the country will be nationalised. In all, these roads owe the banks more than €3.4 billion. The state Continue reading Vera – Cartagena toll road goes bankrupt and will be nationalised→

Local businessman arrested as 500 kilos of cocaine found in Cartagena port

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Police have arrested noted “businessman” Antonio GG, aka “El Garí”, after seizing 500 kilos of cocaine found in a container in Cartagena port, along with 8 other people across the province of Almería. Antonio, a “businessman” who lives in Olula del Rio, has a number of businesses across the province but is also reputed to be involved in much shadier operations. In 2009 he was cleared of ordering the murder of the head of the Continue reading Local businessman arrested as 500 kilos of cocaine found in Cartagena port→

AVE train promises ahead of elections

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The local PP party is jubilant at the news that a section of high speed railway between Almeria and Murcia looks set to be contracted out by next year. The abandoned railway, which has cost the state over a billion euros (the tunnels and all), has been sitting mouldering in the sun for the last few years after the cash ran out. Earlier this year, ADIF, the railways operator, ordered the tunnels to be sealed Continue reading AVE train promises ahead of elections→

Cartagena toll road could be closed down

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The Government has confirmed that it is prepared to close several toll roads if the operating companies eventually fold, including our local Vera-Cartagena road. The operating companies are all underwritten by the State, so if they fail ownership of these toll roads would go back to Madrid. These roads are all currently in bankruptcy proceedings, and their future is uncertain. The Vera-Cartagena road is almost certain to be liquidated by the Courts as it has Continue reading Cartagena toll road could be closed down→

Leaked railways document confirms no plans for Almeria’s AVE

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A leaked document from ADIF, the railways operator, that Ideal newspaper got hold of, appears to confirm that those in power have no plans whatsoever to continue with the Almeria high speed train link. “Not one cent more for the railway in the province” according to Ideal. The document, which is a high level strategy document adjusting the national strategy for railways, says that the AVE to Murcia should be finished off, and then the Continue reading Leaked railways document confirms no plans for Almeria’s AVE→

Cartagena – Vera toll road enters bankruptcy proceedings

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The Cartagena – Vera toll road has filed a petition for bankruptcy protection in the Madrid courts, as it cannot meet debt repayments on the 550 million euro debt the holding company owes. According to the company, non payments of maintainence by the Junta and Murcia, and very low (I would say almost non-existent) traffic levels means that it hasn’t been able to keep up with the payments since September 2011. Aucosta, the company that Continue reading Cartagena – Vera toll road enters bankruptcy proceedings→