The Finnish National Rail Administration is moving forward with the country’s first rail public-private partnership (PPP), having already appointed legal and financial advisers for the project earlier this month.
Helsinki-headquarted Hannes Snellman has been appointed as legal adviser to the Finnish authorities with local firm Inspira Oy hired to provide financial advisory services. The rail project will require the future concessionaire to build and operate a new, 79-kilometre double-track line between Kokkola and Ylivieska, to the north-east of Finland, in addition to refurbishing any existing track along the same route.
The project is set to cost a total of €660 million of which €263 million is capex. The Finnish rail authority is looking at a concession length of between 20 and 30 years for the final contract. Initial offers for the deal are expected in September 2010 with construction work to start in 2011 and finish in 2014.