The Anonymous Widower

Finland – Estonia Tunnel Secures €15bn In Funding

The title of this post is the same as that of this article on the International Rail Journal.

This is the first paragraph.

FINEST Bay Area Development has signed a memorandum of understanding (MOU) with Touchstone Capital Partners, China, to secure €15bn in financing for construction of a 100km railway tunnel under the Gulf of Finland between Helsinki, Finland, and Tallinn, Estonia.

Linked to the planned Rail Baltica, it will mean that passengers and freight will be able to use railways between the UK and Finland.

March 12, 2019 Posted by | Transport | , , , , , | Leave a comment

Finland-Estonia Rail Tunnel Feasibility Study Completed

The title of this post is the same as that of this article in the International Railway Journal.

This is the first two paragraphs.

A feasibility study into the construction of a rail tunnel under the Baltic Sea between the Finnish capital Helsinki and the Estonian capital Tallinn estimates the cost of the project at €13-20bn.

The FinEst Link tunnel would be constructed as two 10m-diameter single bores connected at intervals with an 8m-diameter central service tunnel. The concept includes two artificial islands, and three stations in Helsinki – City Centre, Pasila and Vantaa Airport – and one station at Ülemiste in Tallinn. The tunnel would be standard gauge to connect with the new Rail Baltica high-speed line linking Estonia, Latvia, Lithuania and Poland.

The article also goes on to say this about the economics of the tunnel.

While the project has a low cost:benefit ratio of 0.45 due to the high capital cost, its wider economic impact on GDP ranges from €4bn for the low scenario to €6.9bn for the base scenario.

Would the projected cost and economics of the FinEst Tunnel be a rough guide to what would happen if a fixed link were to be built between Scotland and Ireland?

The FinEst Tunnel will be standard gauge to be compatible with Rail Baltica, despite both Finland and Estonia using different railway gauges.

Just like the difference between Great Britain and the island of Ireland.

 

February 9, 2018 Posted by | Transport | , , , | 1 Comment

A Big Step For Rail Baltica

This article on Railway Gazette is entitled Rail Baltica procurement agreement signed.

Rail Baltica is a large  project to create a standard gauge railway from Tallinn in Estonia to Bialiystok in Poland via Riga in Latvia and Kaunus in Lithuania.

One extra part of the plan is to build a rail tunnel between Helsinki and Tallinn, to connect Finland to the European railway network.

This Google Map shows the Gulf of Finland.

The Gulf Of Finland

The Gulf Of Finland

Helsinki and Taillinn are in the West on the North and South coasts respectively, with St. Petersburg in the East.

I would think, that a Taillinn to Helsinki Tunnel, would be feasible, but at probably sixty kilometres it would be the longest undersea tunnel in the world.

Now that the various parties have agreed to proceed, we might see some progress on building the main route from Tailinn to Bialystok, which hopefully will be finished in 2025.

October 12, 2016 Posted by | Transport | , , , , , | Leave a comment

Peer-to-Peer Lending In Estonia

My Zopa alert found this article from a website called European Voice.

It gives this view on Estonian banking.

Banking is the economy’s biggest weakness. It offers stingy, fee-ridden savings products and over-priced loans with nasty hidden costs. Intermediaries gain colossal profits, especially when they are greedy and reckless. When things go wrong, as they inevitably do, the taxpayer picks up the bill. Apart from that, it works fine.

It then goes on to show how things are changing through a company called Isepankur.

The writer has in fact invested some of his savings, by loaning to Estonian borrowers. This is his experience so far.

My net average return (like most Isepankur lenders) is about 17%. I have so far lent €1,570 to about 50 borrowers, in amounts ranging from €5 to €25. I have received €60 back in repaid capital and €24 in interest. I also got €0.06 in ‘penalties’ (my share in a small fine levied on a borrower called ‘Lillekas’ who paid a few days late).

I don’t think it will be many years, before the peer-to-peer lenders are available in many countries.

Who’d be a retail banker?

January 27, 2013 Posted by | Finance, World | , | Leave a comment