Finland's prominent daily Helsingin Sanomat talked with Kenny Song who has visited Finland. He is the managing director of the Chinese  investment company Touchstone Capital Partners involved in the Finland-Estonia tunnel, so-called "Finest Tunnel".

He says, he still considers the Helsinki-Estonia Tunnel a viable project.

Kenny Song's visit to Finland is the result of a $ 15 billion letter of intent (MoA) signed last March between Peter Vesterbacka and Gustav Valtonen, a company founded by Finest Bay Area and Song. His aim is to canvass the decision makers in two countries.

The aim is to create a railway tunnel between Finland and Estonia, where trains will run by December 2024 at the latest. Tunnel is to shorthen the 2 hour (ferry) trip between two capitals to half an hour.

“We have the experience, the technological know-how and the financial capacity to do just that kind of infrastructure projects. When a property is judged to be viable and profitable, money finds its way like running water. ” But he also adds that the project needs the support of the (political)  decision makers.

Politicians and officials in Finland and Estonia have questioned the economic feasibility of the tunnel project which is estimated to cost between 13-20 billion euros. Project proponents suggest that ticket and freight revenue will pay back the construction investment in 17 years. They hope that the passengers will spend 100 euro for a return ticket, much more expensive than cheap ferry tickets, for a more comfortable trip. They also claim that the tunnel will stimulate the economy, creating jobs.

Currently, initial agreements have been signed with companies for the construction of the tunnel. With Finnish A-Insinöörit and Pöyry, Chinese China Railway International Group, China Railway Engineering Company (CREC) and China Communications Construction Company and Turkish construction company Gama Holdings.

Before anything, zoning pernits have to be obtained  and environmental impact studies need to be conducted. This is a bumpy road and Estonia lags behind Finland in both cases.

And the last but not the least, China-funded project worries Europeans.

Nevertheless, Finest and Touchstone hope that they can convert the current memorandum of understanding to a real financing agreement in six months...

https://www.hs.fi/kaupunki/art-2000006283432.html