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MOU signed for Helsinki-Tallinn (Finland - Estonia) undersea rail tunnel. But project has critics for increasing China influence
A Memorandum of Understanding (MOU) has been signed for the 100 kilometers-long Helsinki-Tallinn undersea railway tunnel.
It has been signed on July 12 by 4 parties: "Finest Bay Area Development (Febay), Finland, Touchstone Capital Partners (TCP), China Railway International Group (CRIG) and China Railway Engineering Company (CREC).
They agreed to iron out the final agreements on the project’s design and construction.
Transferring control to China?
Tunnel is considered as an addentum to China's 'Belt and Road' (modern-day `Silk road').
Few months ago Finbay and TCB had signed another MOU for securing a finance of 15 billion euro.
But the project is criticized not only for its economic feasibility but also increasing influence of China in Europe. Project initiators claim that unlike other cases like sale of a major ports in underdeveloped countries (in Greece and Pakistan) transferring the control of it to Chinese etc, the operation of the Finland - Estonia tunnel will be in the hands of the Finland.
I had previously posted the ambitious Helsinki-Tallinn undersee railway tunnel in another group:
Yes. In a West dominated World everything must be built by Herrenknecht, Robbins and other western companies. For more than a century European and American companies have been building in Asia, including China. And for once, when a China company attempts to build something in Europe, suddenly `Chinese are invading`. No comment.,
"The Tallinn-Helsinki tunnel: Europe’s boldest project in years"
"When asked in a recent interview if the project would happen, or if it would be forgotten in a few years, Peter Vesterbacka responded with the words: “It’s too late to be forgotten. It’s too important. I don’t think we can afford not to build the tunnel. It’s for the future of our countries, it would be stupid not to grab the opportunity and make this real.”
cover tunnel photo by: Matt Brown from London, England / CC BY
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Selling out of Europe to China continues...