Release date: 28 April 2005
Promoter – Financial Intermediary
Finnish Road Administration (Finnra)Location
Description
The construction and operation of a 50 km section of the E18 motorway between Muurla and Lohja, including seven tunnels, eight interchanges and forty-nine bridge sites.
Objectives
The new motorway section will complete the missing link between Turku and Helsinki, thus improving the transport efficiency, safety conditions, and environment protection and savings in travel time for local, as well as for international transit traffic, along the E18.
Comments
Road Transports.
Sector(s)
Proposed EIB finance (Approximate amount)
Up to EUR 200 million. To be reviewed once the preferred bidder has been appointed. The Bank’s loan would not exceed the usual limits in relation to project cost for this type of project.
Total cost (Approximate amount)
The capital cost is currently estimated to be approximately EUR 360 million, but will be finalized once the preferred bidder has been appointed.
Environmental aspects
The project falls within the scope of Annex 1 of the EC Directive 97/11, requiring a full EIA with public consultation, which has already been undertaken.
Procurement
The project will be procured as a Public Private Partnership to design, build, finance and maintain the infrastructure. The payment mechanism will be based on availability and performance payments to the concession company during a 25-year concession. The procurement procedure applied by Finnra is based on Finnish national laws (1505/1992 and 380/1998), which are in accordance with EU Directives. The project was advertised in the Public Procurement Gazette on 11 March 2004, issue 11.2004, and in the Official Journal of the EU, issue S47/2004.
Status
Signed - 27/10/2005
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).