Helsinki-Tallinn tunnel to get $16.8 bln from Touchstone

Friday, March 8, 2019 - 00:00

HELSINKI, March 8 (Reuters) - FinEst Bay Area Development said on Friday it had signed a memorandum of understanding for 15 billion euros ($16.8 billion) in financing with China’s Touchstone Capital Partners for its undersea train tunnel project linking Helsinki with the Estonian capital Tallinn.

One-third of the funding will come as a private equity investment - giving Touchstone a minority stake in the project - and two-thirds will be debt financing, it said.

“Financial details will be negotiated over the next six months,” FinEst Bay Area said in a statement.

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