Talgo and Renfe sign a $132 million deal and close the controversial Avril train contract
According to the agreement, Talgo will receive EUR 200 million within three months, and his sentence with Renfe will begin to be paid in 2032.
Facade of one of Talgo's factories.
Talgo and Renfe concluded an agreement on the S106 project on Thursday to end disputes between the two companies in recent years.
The controversial contract for 30 trains in the 106 series, known as Avril, was signed in 2016 by the two companies. Renfe complained that Talgo had delivered the trains after the deadline and also warned of shortcomings. The Basque company was fined 116 million euros for delays.
Thanks to the agreement, on the one hand, Renfe will make payments to Talgo for the Avril trains blocked within three months; the Basque company will receive EUR 200 million and will be able to alleviate its economic situation.
In return, Talgo has adapted 15 of these trains to Renfe's needs and, for that work, has received EUR 132 million.
The pact also states that the Basque railway manufacturer will begin paying a fine of EUR 116 million in 2032.
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