"We are going to close the year having made nearly 200 international bids compared to around 160 in 2010." Ignasi Nieto, Chairman of Ineco
Ignasi Nieto, Chairman of Ineco, one of the countries leading the construction of a highspeed rail link to Mecca, in Saudi Arabia, explains why this project illustrates the quality of Spanish technology and the future of infrastructure in Spain.
A benchmark for high-speed rail
Spain is setting benchmarks for high speed rail lines, especially the Ineco company.
Ineco is the public transport engineering company belonging to the Ministry of Public Works. It is part of the consortium of 12 Spanish companies that won the contract to design and build the high-speed rail megaproject between the Saudi cities of Medina, Jeddah and Mecca.
"To build a railway infrastructure like this, with a value of 6,736 million euros is an endorsement of Spanish technology," says Ignasi Nieto, Chairman of Ineco.
"From the point of view of technology, know-how, human capital and industrial capital, we are among the best in the world," he says.
The challenge of going global
The internationalization of Ineco was one of the challenges that Nieto took on when he became chairman of the company.
However, the results are good.
"We are going to close the year having made nearly 200 international bids compared to around 160 in 2010," he says.
Currently, the company is involved in international projects in 40 different countries and invoicing in total more than 266 million euros annually.
A greater role for PPPs
Nieto says that in the future Spanish projects will be based on economic efficiency criteria: "This will open up the field to private sector participation via PPPs because they can best analyze if the construction of an infrastructure will be profitable or not."