The Nordic Investment Bank (NIB) and Espoo’s municipally owned company Länsimetro Oy have signed a loan agreement totalling EUR 150 million with a maturity of 30 years for the construction of the extension to the West Metro line in Espoo in Finland’s capital region.
The loan will finance Phase 2 of the West Metro line, which will connect the westernmost parts of the city of Espoo with the country’s capital, Helsinki. The new, 7-km stretch will have 5 stations and it is expected to be completed in 2020.
“The growing capital region of Finland needs modern and sustainable solutions for public transportation. The extension of West Metro is supporting this development by reducing carbon emissions and increasing the passenger capacity”, Henrik Normann, NIB President said.
In total, the annual value of time savings in traffic is estimated to approach EUR 1 million by 2025 and to exceed EUR 3 million by 2050. It is estimated that 170,000 people will use the new metro line on a daily basis.
The 14-km, 8-station Phase 1 of West Metro has also been co-financed with a NIB loan signed in 2011 for an amount of EUR 120 million.
Photo: Länsimetro
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