The Chinese Corporation Touchstone Capital Partners Ltd will allocate 15 billion euros for the construction of an undersea rail tunnel between Finland and Estonia. This was reported on the website of the company FinEst Bay Area involved in the project, reports UNN.
“We are very pleased with the negotiations and agreement reached. In Touchstone extensive experience in financing similar large private infrastructure projects”, — said the representative of the FinEst Bay Area.
Financing details will be agreed in the next six months. It became known that the Chinese investment Fund will complement the € 100 million investment received FinEst Bay Area at the end of 2018 the company from the United Arab Emirates ARJ Holding LLC.
The founder of the Bay Area’s FinEst is a Finnish businessman Peter Vesterbacka, who created it for the design and construction of a railway tunnel “Helsinki — Tallinn”.
The first high-speed train is able to accelerate to 350 km/h are expected to go through the tunnel on 24 December 2024. The passengers will spend on the way from Tallinn to Helsinki about 20 minutes. The ticket price will be 50 euros.
According to the data released at the beginning of the 2018 feasibility study of the project, the tunnel length of about 100 km will join the Rail Baltica railway European gauge, which is up to 2026 will link Tallinn with Warsaw. The cost of construction is estimated at 15-20 billion euros.
Currently to drive from Helsinki to Tallinn can be, in particular, at the 2:00 ferry.
Recall, 23 October 2018 in Zhuhai in China’s Guangdong province opened the world’s longest sea bridge.