Barcelona's new High-Speed Train station has its budget reduced from €800 to €650 million
The Spanish Transport Ministry and Barcelona’s City Council signed an agreement to unblock the construction work of La Sagrera train station, which was on hold due to the current financial crisis. This project is the main urban planning initiative Barcelona has been trying to develop since the Olympics. It involves building a huge inter-modal station, combining high-speed trains, short- and medium-distance trains, underground trains and buses. In addition, many retail, office and housing buildings would be built on top of the station and nearby. On top of this, a 4.5 kilometre-long park would be created, covering the rail yard and connecting several neighbourhoods that are now separated by the tracks. In early 2013, the project was at risk since the Spanish Government had not guaranteed its funds, despite the fact that construction work started years ago.