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    Reference: 20220314
    Release date: 1 March 2024

    Promoter – Financial Intermediary

    CITY OF HELSINKI

    Location

    Description

    The project concerns the construction of the Crown Bridges light rail line in the City of Helsinki, the construction of a new depot and the acquisition of related rolling stock and ancillary works relating to the light rail line. The Crown Bridges light rail will connect the suburbs of Laajasalo, Korkeasaari and Kalasatama to Helsinki city centre. It will also provide a new route for cyclists and pedestrians.

    Objectives

    The aim is to support investments in sustainable urban public transport. The new light rail line will provide a direct and segregated link to the city centre, which will reduce air pollution and greenhouse gas emissions (transport externalities) as well as travel times.

    Sector(s)

    Proposed EIB finance (Approximate amount)

    EUR 400 million

    Total cost (Approximate amount)

    EUR 998 million

    Environmental aspects

    The promoter's environmental management capacity to apply the relevant EU Directives will be verified during appraisal, particularly with regard to the EU environmental impact assessment (EIA) Directive 2011/92/EU (amended by 2014/52/EU), EU SEA Directive 2001/42/EC, EU Habitats Directive 92/43/EEC and EU Birds Directive 2009/147/EC. The project falls under Annex II of the EIA Directive under which the environmental Competent Authority decides case-by-case whether a formal EIA is required. Compliance with the relevant Directives will also be further assessed during project appraisal. The project is expected to contribute to climate action and environmental sustainability (CA&ES) objectives, in particular to climate mitigation and pollution prevention.

    Procurement

    The EIB will require the promoter to ensure that contracts for implementation of the project have been and will be tendered in accordance with the applicable EU procurement legislation, for contracts above the threshold; namely Directive 2014/24/EU as well as Directive 92/13/EEC or Directive 89/665/EEC as interpreted by the Court of Justice of the EU, with publication of tender notices in the EU Official Journal, as and where required.

    Status

    Approved - 24/05/2024

    Milestone
    Under appraisal
    Approved
    24 May 2024

    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).

    Related tags

    Finland Transport