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The European Investment Bank (EIB) is to provide a 91 million loan to Canal de Isabel II to finance construction of wastewater treatment facilities in the Madrid Region, as well as the rehabilitation of a water reservoir below the Plaza de Castilla, in the north of the city.
Canal de Isabel II is the Community of Madrid's company responsible for managing the water cycle in the region. The project comprises the construction of 73 new wastewater treatment plants, the expansion and rehabilitation of two existing plants, and the building of 172 km of sewage collectors and 10 pumping stations. These works form part of Madrid's Regional Sanitation Plan, which aims to treat 100% of the local municipalities' wastewater by 2003. The project also includes rehabilitation of the underground water reservoir below Madrid's Plaza de Castilla.
By mounting this operation, Madrid is implementing the EU's wastewater treatment directives two years ahead of time.
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