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October 24, 2011

EIB to fund Helsinki urban transport project

The European investment bank (EIB) has agreed to provide €250m in grants to Finland's Helsinki metro (HKL) to raise capacity, modernise equipment and improve passenger comfort and environmental standards of Helsinki's public-transport system.

The European investment bank (EIB) has agreed to provide €250m in grants to Finland’s Helsinki metro (HKL) to raise capacity, modernise equipment and improve passenger comfort and environmental standards of Helsinki’s public-transport system.

The scope of work includes new metro trains, automating the metro signalling system, modernising the metro train depot, renovating metro stations and track.

The work also includes construction work and equipment along a 25 km bus rapid transit route.

The project will be carried out in the years 2011-2016.

Earlier in 2011, the EIB had extended €450m loan to the project company Länsimetro, owned jointly by the City of Espoo and the City of Helsinki for the construction of a 14-km metro line from Central Helsinki to Espoo.

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