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World’s longest $16.8 billion undersea rail tunnel from Finland to Estonia hits first obstacle

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Christian Fernsby ▼ | August 16, 2019
Finland and Estonia tunnel
Europe   Finland and Estonia tunnel

Bloomberg reported that a plan to build the world’s longest undersea rail tunnel has hit its first snag.

Topics: Finland Estonia tunnel

Financing of USD 16.8 billion was agreed this year for the tunnel to link Finland and Estonia.

But the Baltic nation of 1.3 million people wants more details on that funding, the business plan behind the idea and Finland’s role before giving the green light.

Estonian Economy Minister Taavi Aas said in an interview “We need a clear understanding of where the money is coming from and in what amount.

Where are the guarantees that it will be completed? The developer hasn’t been able to respond how it’s estimated the volume of people that will be traveling through there.”

The tunnel between Helsinki and Tallinn would span more than 100 kilometers (62 miles) and entails construction of at least one artificial island.

The project was founded by Finnish entrepreneur Peter Vesterbacka, formerly of Rovio Entertainment Oyj, which developed the Angry Birds video game.

The financing, to be provided by China’s Touchstone Capital Partners Ltd., will cover the entire cost of the project, the tunnel company Finest Bay Area Development Oy said in March.

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