Helsinki-Tallinn tunnel secures EUR 100 million
The development of a monumental undersea train link between Finnish capital Helsinki and Estonian capital Tallinn has been boosted by a 100 million-euro investment.
Led by former Rovio executive Peter Vesterbacka, the multi-billion-euro Finest Bay Area development project secured the significant funding from Dubai-based construction company ARJ Holding.
The project was initiated in 2016 and looks to connect Finland and Estonia with a railway link that includes a 100 kilometre-long undersea tunnel between the two capitals.
“To have the first external funding is a significant step for the whole project […]. The Helsinki-Tallinn area will in the future be one of the fastest-growing [metropolises] in Europe,” Vesterbacka said in a press conference as reported by Reuters.
The first tickets have already been put on sale for 24 December 2024 in an online ticket shop built by Finnish company Columbia Road, whilst the ambitious project is proceeding on the regulatory front.
The route would include four train stops between the airports in Helsinki and Tallinn, one of which would be an artificial island built in the Gulf of Finland.