A three hour ferry ride across the Gulf of Finland could be reduced to a mere 20-minute train ride. However, the £12 billion project has been hit with scandal over foreign investment
Plans to build a high-speed rail system under the Baltic Sea have become shrouded in controversy due to two main factors. Travelling from Helsinki in Finland to Estonia’s capital of Tallinn currently requires a three hour ferry ride across the choppy Gulf of Finland. But, a near 100km tunnel could cut the gruelling journey down to a commutable 20 minutes. Spearheaded by Finish developers at Finest Bay Area Development Ltd, the mega project has been proposed and is reported to cost around €15 billion (£12.36 billion under current exchange rates).
Such ambitious proposals have been in the work for years, but concern around alleged Chinese funding, and the country’s allyship with Russia following the invasion of Ukraine, has thrown a huge spanner in the works. Earlier this year, Finnish Minister of Transport and Communications Lulu Ranne told local press the tunnel wasn’t being considered a ‘realistic plan’. However, Kustaa Valtonen, founding partner of Finest Bay Area Development Ltd, still has his eye on what could become the world’s longest railway tunnel.
Speaking to South China Morning Post back in March, he said the sponsor company was looking ‘favourably’ towards Chinese construction companies, who will loan around 70 per cent of the total costs.
“The Chinese are leading the game in high-speed railways by a long, long, long way at the moment,” Kustaa added. “[But] our funding is not Chinese, it’s international. We’d rather stay out of politics.” The entrepreneur stated that no ‘final decisions’ have been made, and that while there may be Chinese debt involved in the project – funding would also come from Europe, America, and the Middle East. No specific figures were confirmed.
Want the latest travel news and cheapest holiday deals sent straight to your inbox? Sign up to our Travel Newsletter
Both Finland and Estonia share land borders with Russia, but are both members of NATO. Accepting money from the Chinese has stirred opinions in both countries, after China doubled down on its relationship with Putin following global sanctions against the dictator. Maria Torttila, a senior expert in the Finnish Ministry of Transport and Communications, insisted that Helsinki has been looking at methods to improve its connectivity and secure its supply chains, and that the country is ‘open for discussion’ on the tunnel. However, it doesn’t currently feature in the government’s 12-year transport plan.
Kustaa has pushed back at criticism around Chinese funding, pointing out that there are already projects in Finland partly funded by the country. “Why does our government trust the Chinese partner to work on a joint battery factory? Why is that different? Have you taken the metro in Stockholm, operated by MTR, the Hong Kong company … is that a risk, or should I take the taxi or the bus instead?” he said.
Do you have a story to share? Email us at [email protected] for a chance to be featured