Urban transformation projects linked to the arrival of the high-speed railway AVE in the city of Murcia and the underground routing of a railway infrastructure that runs through a wide variety of established urban areas could create externalities and impacts that go far beyond any strict improvement in mobility, achieving urban regeneration dynamics both at the edge of the scar and in its area of influence.

This type of investment project, in addition to incorporating economic and financial considerations, must incorporate quantitative and qualitative impact analysis to help evaluate the economic and social desirability and opportunity of this type of mixed project (infrastructure renewal and urban regeneration).

The cost-benefit analysis (CBA) applied to the investment project for the arrival of the AVE in Murcia includes both quantifiable and non-quantifiable (economic, environmental and social) externalities, with the aim of supporting the Projects Directorate in the Urban Development Division of the European Investment Bank in its decision-making process for project financing.