Spain Plans to Spend $8.6 Billion on Tajo River Area Water Works

Apr 11, 2014 10:35 am ET

April 11 (Bloomberg) -- The Spanish government and local authorities plan to spend 6.17 billion euros ($8.6 billion) to better manage and treat waters in the Tajo River basin, the country’s biggest.

Spain will invest 3.5 billion euros to comply with environmental regulations on wastewater treatment and 2.5 billion euros for infrastructure to improve irrigated water management, the Agriculture Ministry said today.

Spain is Europe’s most water-stressed country, according to the World Resources Institute’s analysis of supply and demand. Still, water prices are almost half the average for the European Union, according to a February report from PwC.

Some 170 million euros will be allocated for basin water management and education, the ministry also said in a statement.