Construction of the high speed train line from Valencia to Madrid cost 9,000 million euros.
When the project was first announced in 1999, the promise was that the journey from Alicante to Madrid would take 100 minutes. In fact, the time to cover the 500km journey will be 2 hours and 30 minutes which is just half an hour less than the present non stop train journey. The goal is to cut the time down to 2 hours 15 minutes once all the safety checks have been made. However, that is still a lot longer than the 1 hour 40 minute goal.
As for the cost of the journey, that has not been settled yet but could be between 70 and 90 euros.