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China to invest in world’s longest undersea rail tunnel


Night Hunter

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An ambitious train rail link, designed to connect the Finnish and Estonian capitals through the bottom of the Gulf of Finland, has attracted €15 billion (US$17 billion) from China-owned Touchstone Capital Partners.
Finest Bay Area Development Oy inked a memorandum of understanding with the Chinese fund, which sponsors Beijing’s Belt and Road initiative, to provide funding for the Helsinki-Tallinn tunnel, the company announced on Friday. One-third of the €15 billion funding will come as a private equity investment, with Touchstone taking a minority share in the project, and the remaining two-thirds as debt financing.

The Chinese financing will be available to Finest Bay Area Development as the project progresses. The partners are to further agree on financial details of the contract over the next six months.

The 103-kiolmeter tunnel, designed to connect the Helsinki-Vantaa airport and the Tallinn airport with two stations in between, is one of Europe’s largest infrastructure projects, according to project leader Peter Vesterbacka.

“Touchstone has extensive experience in financing similar large private infrastructure projects,” co-founder of Finest Bay Area, Kustaa Valtonen, said. He added that the company is looking for “fully balanced financing solution” and aims to secure European, Nordic, and Finnish capital investments.

Earlier, the firm said that the tunnel will cost around €15 million, and Touchstone’s help can fully cover the costs. Last year, Dubai-based construction company ARJ Holding agreed to provide €100 million funding for the train link, which is planned to cut the travel time to around 20 minutes from the two-hour ferry ride used by tens of thousands of commuters.

 

hough construction of the undersea tunnel has not started yet and it is not scheduled to be operational until 2024, tickets for the ride have been available since December. A one-way ride will cost passengers €50, while an unlimited annual subscription voucher is being sold for €1,000.

Beijing has been investing in multiple projects around the world via its multi-trillion-dollar Belt and Road Initiative (also known as the One Belt and One Road Initiative). The project aims to boost connectivity and cooperation between East Asia, Europe, and East Africa.

 

Source https://www.rt.com/business/453420-china-undersea-tunnel-investment/

Edited by Night Hunter
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1 hour ago, Alonso1995 said:

China everyday is getting the new center of finances of the world, more than London or New York now. We're on a shift of powers right now.

Wait for their bed debt to explode. Why you think they do crazy surveillance. 

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They buy all in France : Over the past decade Chinese investors have conquered dozens of chateaux in Bordeaux, France's famed wine-growing region.

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12 hours ago, tipsy said:

bad debt?  they are lending money everywhere  . Sri lanka, Pakistan etc. 

That is for long term strategy. See their housing market and ghost town.

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I live here and this railway thing has been coming up over and over again. Not to mention big-ass bridges across the sea and car tunnels.  So let's see..
Although - they sell tickets from december 2018 as said on first post. First express should leave station approximately 24.12.2024
There are 3 different tickets available. €50 single, €100 return trip and €1000 one year unlimited. This is quite cheap because after this pre-sale, a hell breaks lose. For example, €2499 for whole year would be established. Buy yours HERE
Tickets are available for supporting the construction (that is still on paper literally)  and prevent errors when the whole thing should start its duty.
I really like the idea though. ~30min ride to Helsinki, sounds nice BUT if there's a 30min security check too... Security is very important, but people would not agree with this amount of time. So again, let's see.

 

 

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