Finest Bay Area Development Oy (FEBAY) has announced a memorandum of understanding for the construction of the Talinn tunnel. The aim of the FEBAY tunnel project will be to build a submarine train tunnel that will significantly reduce travel time between Finland and Estonia.
Memorandum of Understanding was signed by Finest Bay Area Development Oy (FEBAY), British Touchstone Capital Partners (TCP), China Railway International Group (CRIG) / China Railway Engineering Company (CREC) and China Communications Construction Company (CCCC).
The parties agreed to negotiate the final agreement on the design and construction of the Talinn tunnel project. The memorandum
The signatory parties are composed of mega-sized infrastructure projects and partners with experience and expertise in tunnel and train technology. While tunnel traffic was planned to start on 24.12.2024, it was included in the project at Espoo Lentorata.
The parties also agreed on the idea of installing an underground parking lot with more than 10 000 spaces for the tunnel.
The Talinn tunnel project consortium was created by ÅF Pöyry, AINS and FIRA. The planning and design and environmental impact assessment of the tunnel will continue with these partner organizations.
The project is expected to have a significant economic impact on Finland and Estonia. Total 15 billion
A budget of approximately 12,5 billion Euros was allocated for the construction of the project, which has a Euro budget.