Spain's Grupo Ruiz to buy less polluting buses with EIB financing
The European Investment Bank is set to finance the modernisation of Grupo Ruiz's bus fleet in Spain by facilitating €27.5 million for the introduction of 173 safer, less polluting and more modern vehicles.
The financing will replace more polluting diesel buses with 32 electric and 141 compressed natural gas alternatives. The new vehicles will provide public transport services in Madrid, Majorca, Badajoz, Toledo, Salamanca and Murcia, covering both urban and intercity lines. They will enter service over the next two years.
Grupo Ruiz's EIB-financed investments include the construction of three new electric charging stations in Badajoz, Alcudia and Palma de Mallorca.
The project is being supported by the Investment Plan for Europe, whose guarantee makes it possible for the EIB to provide financing on favourable terms to support investments whose structure or nature means that they contribute to boosting economic growth and employment. In this case, the EIB-financed investments will facilitate the creation of 360 jobs during the project's implementation phase.
