Vantaa Ring Rail Line

Promoter – Financial Intermediary

Joint Venture between the Finnish Railway Administration (RHK), Vantaan Kaupunki (City of Vantaa) and Finavia

Location

• Finland

Description

Construction of a circular rail route between the Helsinki Metropolitan Area and the Helsinki-Vantaa Airport. The Ring Rail Line will be a 2-track passenger line of 18 km, of which 8 km will run in 2 separate tunnels under the airport area.

Objectives

The Ring Rail Line project has been deemed the most urgent infrastructure project by the Finnish State and the Helsinki Metropolitan Area. It will supplement the existing public transport network and open a rail connection to the airport. The rail line will also open up new possibilities for land development in the vicinity of the rail line.

Sector(s)

• Transport

Proposed EIB finance (Approximate amount)

Up to EUR 230 million

Total cost (Approximate amount)

Up to EUR 600 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. An EIA is mandatory for the proposed investment and the promoter has advised that an EIA was undertaken in 2001 and environmental permits have been granted. The Bank will review the EIA process adopted to date to confirm that it complies with applicable domestic legislation, the EU Directives and any relevant international conventions to which Finland is party.

Procurement

The construction works and associated supervision are to be procured through appropriate tender procedures in keeping with EU and National legislation. The project will be tendered via several smaller lots, which are to be procured separately. Bidding is commencing in mid-2009.

Status

Signed - 9/04/2010