Government approves third amendment to the 2018‑2027 Road Agreement with the Canary Islands
The Ministry will provide a maximum amount of €1.448 billion to finance the works and the land expropriations required for their execution.
The Council of Ministers approved yesterday the signing of the third addendum to the 2018‑2027 Roads Agreement between the Ministry of Transport and Sustainable Mobility and the Government of the Canary Islands. This new pact guarantees the completion of the works that are still pending.
During the term of this agreement, the Ministry will contribute up to €1,448,255,524.97 to fund the construction works and the necessary land expropriations.
The payment schedules are being readjusted and the list of financed actions updated, including two new projects:
- Mogán Tunnel, located at km 44 of the GC‑500 road on the island of Gran Canaria.
- Adaptation of the Adolfo Cañas and Piedra Santa tunnels on the GC‑1 road (Gran Canaria) to meet the European directive.
Through this agreement, the Spanish Government commits to multi‑annual funding for road construction in the Autonomous Community of the Canary Islands for the period 2018‑2027. The original document was amended by a first addendum signed on 18 December 2019 and a second addendum formalised on 29 December 2022.
Third Addendum – Key Modifications
- Redistribute remaining funds from the unexecuted investment of the 2023‑2024 instalments, the planned execution of the 2025 instalment, and the financing deficit of 2024, allocating them to the 2026‑2030 instalments.
- Extend the agreement’s duration for a maximum of five additional years.
- Update and amend Annex I, which lists the actions eligible for financing under this agreement.
- Incorporate a completed Annex II covering works from the 2006 Agreement and its addenda that remained pending as of 31 December 2022.
- Empower the Bilateral Commission to agree on annual payment adjustments arising from unexecuted investment leftovers or budgetary financing deficits, provided these adjustments do not alter the total economic commitment or the agreement’s overall time frame.