The Chinese Corporation Touchstone Capital Partners Ltd will allocate 15 billion euros for the construction of an undersea rail tunnel between Finland and Estonia.
“We are very pleased with the negotiations and the agreement. Touchstone have a lot of experience in financing similar large private infrastructure projects”, – reads the statement of the FinEst Bay Area companies involved in the project.
It is also noted that financing details will be agreed in the next six months.
Chinese investment Fund will complement the € 100 million investment received FinEst Bay Area at the end of 2018 from the Corporation of the United Arab Emirates ARJ Holding LLC.
Company FinEst Bay Area was created by a Finnish businessman Peter Vesterbacka for the design and construction of a rail tunnel Helsinki-Tallinn.
It is expected that the first high-speed train is able to accelerate to 350 km/h will travel through the tunnel on 24 December 2024. By purchasing a ticket for 50 euros, the passenger will spend on the road from Tallinn to Helsinki about 20 minutes.
According to the published in early 2018 feasibility study of the project, the tunnel length of about 100 km will join the Rail Baltica railway European gauge, which by 2026 will link Tallinn with Warsaw.
The cost of construction is estimated at 15 billion – 20 billion euros. Currently to drive from Helsinki to Tallinn can be, in particular, for two hours on the ferry.