Release date: 1 March 2011
Promoter – Financial Intermediary
Finnish Transport Agency
Location
Description
The project comprises the construction of a 53 km section of 2x2 motorway which includes 1) the conversion of the current highway into a motorway from Koskenkylä to Loviisa (17 km) and 2) the construction of a new 2x2 motorway from Loviisa to Kotka (36 km).
Objectives
The project will improve traffic conditions on the E18 road corridor in Southern Finland, which lies on the main thoroughfare connecting Finland (including the Nordic Triangle) and Russia. The completion of the motorway section will contribute to the further development of an important TEN-T link connecting to Russia.
Sector(s)
Proposed EIB finance (Approximate amount)
Up to EUR 150 million
Total cost (Approximate amount)
Approximately EUR 300 million
Environmental aspects
The project falls under Annex I of the EIA Directive 85/337/EEC, as amended by Directives 97/11/EC and 2003/35/EC and hence an EIA is mandatory. In addition, the potential impact of the project on a Natura 2000 area and compliance with the Habitats Directive (92/43/EEC) and Birds Directive (79/409/EEC) will be examined during appraisal.
Procurement
The project is being procured as a public-private partnership (PPP). A procurement notice was published in the EU Official Journal. The service provider will be responsible to design, build, finance and maintain the investment. The promoter is selecting the service provider under an international procurement procedure. These procedures along with compliance with Directive 2004/18/EC will be studied during appraisal.
Status
Signed - 8/12/2011
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).