The Generalitat pays 479 million to Cedinsa to rescue the C-25 with the highest tax collection

The Generalitat has today paid 479 million euros to the concessionaire Cedinsa to rescue the toll motorway in the shadow of the C-25, known as Eix Transversal.

Thomas Osborne
Thomas Osborne
09 November 2022 Wednesday 06:43
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The Generalitat pays 479 million to Cedinsa to rescue the C-25 with the highest tax collection

The Generalitat has today paid 479 million euros to the concessionaire Cedinsa to rescue the toll motorway in the shadow of the C-25, known as Eix Transversal. The operation, which was announced in May by the Generalitat, is the subject of three lawsuits by the company that owns the concession because it does not agree with it.

Sources from the Department of Economy said that finally the operation has not been paid for with the FLA (Autonomous Liquidity Fund) of the State but with the Generalitat's own treasury thanks to the surplus resources from the improvement in collection. The Minister of Economy, Natàlia Mas, has indicated that part of the payment is made with the improvement of the collection.

The same sources said that the savings for the public coffers until 2040 will be 780 million, at a rate of 46 million each year. The Generalitat exercises the purchase now because in the concession contract there were several windows to be able to redeem the concession. The shadow toll means that the concessionaire is paid for each car that passes, but instead of being the user, it is the Generalitat.

Of the 479 million paid to Cedinsa, a part will be considered as an investment by the Generalitat (120 million). Cedinsa is owned by funds, although 9.8% remains in the hands of the construction company Comsa and another 2.5% in the hands of Copisa.

Minister Mas has pointed out that with the increase in revenue that the Generalitat was achieving, it has been used to increase the health budget but also to rescue Cedinsa, since it will generate savings in the future. In parallel, Mas has ruled out a tax cut through the deflation of personal income tax since -according to the Department's calculations- the savings would be minimal.