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Signature(s)

Amount
€ 134,192,996.25
Countries
Sector(s)
Finland : € 134,192,996.25
Transport : € 134,192,996.25
Signature date(s)
8/12/2011 : € 134,192,996.25
Link to source

Summary sheet

Release date
1 March 2011
Status
Reference
Signed | 08/12/2011
20100352
Project name
Promoter - financial intermediary
E18 Koskenkylä – Kotka PPP Priority TEN

Finnish Transport Agency

Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
Up to EUR 150 million
Approximately EUR 300 million
Location
Sector(s)
Description
Objectives

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).

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.

Environmental aspects
Procurement

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.

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.

Link to source

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).

General enquiries and comments

The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

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Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

Zero tolerance against fraud and corruption

The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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