Last of the radial toll roads goes under

The R2 radial toll-road linking Madrid to Guadalajara has become the last of the highways set up under the former government of Prime Minister José María Aznar to go under and seek protection from its creditors.

The R2 is operated by Autopista del Henares and the company lost 16 million euros in 2012 and has debts of 360 million, much of it owed to the government which, since 2008, has injected 284 million euros into the company to keep it afloat.

The R2 started to operate in 2003 but the company has fallen below its financial targets every year as a result of cost run-overs for land appropriation and the construction of the highway. In addition, traffic volumes have also fallen well below estimates.

The receivers have been called in despite the concession being extended to 2039 and with permission to increase toll rates.

The R3, R4, R5, the Madrid-Toledo highway, the AP36 between Ocaña and la Roda and the AP7 between Cartagena and Vera have all fallen by the wayside.

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