RAVE (the Portuguese organization responsible for studying and constructing High-speed railway lines) and ADIF - Administrador de Infraestruturas Ferroviárias (the Spanish organization responsible for constructing and managing High-speed railway lines) have formed an EEIG – European Economic Interest Grouping in order to conduct the necessary studies for the Madrid-Lisbon-Porto and Porto-Vigo links.
Constitution
The constituting contract equates AVEP to a commercial company (with fiscal obligations) with a mission that has been defined in political terms (via the Iberian Summits).
Statutes
In line with company statutes, AVEP is headquartered in Madrid and the president of RAVE is also the president of AVEP.
Under the terms of the statutes, the following office-holders are appointed by the General Assembly, after being proposed by members: the Secretary General, the Assistant Secretary General, the Director General, the Assistant Director General and the members of the Accounting and Finance Group.
12 members, 6 from each country, constitute a Monitoring Committee, particularly with regard to the assessment of the company’s plan of activities and budget and to approve the annual accounts.
AVEP is governed by internal regulations, and functions are delegated to company directors. Both the budget and the annual accounts are approved by the General Assembly, in December and June respectively.
AVEP is funded by simultaneous endowments from members and the DGTREN-EU.