Tunnel under the Strait: a financial abyss for Spain

The Spanish government has increased the subsidies allocated to the Spanish Society for Studies on Fixed Communications across the Strait of Gibraltar (SECEGSA), in charge of studies of the tunnel with Morocco, in order to avoid its closure.

SECEGSA had warned in a report published in 2023 that “if the next few years continue with subsidy figures lower than the company’s actual expenses, this will lead in 2024 to a situation of non-viability due to the economic blockade.” The document states that at the end of the 2022 financial year, the company had 1.12 million in subsidies from previous years, pending execution, relays Vozpopuli.