The FIANNCIAL -- NIB and the city of Vantaa have signed a twenty-year-maturity loan totalling EUR 52 million for the construction of the Ring Rail Line. The railway will connect central Helsinki to the city’s international airport, located in Vantaa.
The Ring Rail Line is an essential part of the Helsinki metropolitan area transport network, and will connect two main commuter corridors. The rail link is expected to contribute to the development of new residential areas designed for approximately 10,000 inhabitants, according to NIB.
Upon completion in summer 2015, the total length of the line will be 18 kilometres I will include five stations and eight tunnels, each one kilometre long. Approximately 15 million passengers travel through Helsinki airport every year. Most of them use the public transport system from central Helsinki to the airport.
“We are financing the project because it will support the development of railway public transport in the Helsinki area and transfer passenger traffic from road to rail. A railway link to Helsinki airport will further improve the quality of service for travellers”, says Henrik Normann, President & CEO of NIB.
The total costs are shared between the Finnish state, the city of Vantaa and the airport operator Finavia Oyj.