The European Investment Bank (EIB) has approved €100M in financing to support the second phase of the West Metro extension in Espoo, Finland.
The funding for the second phase of the extension follows a previous €450M loan provided in 2011 for the first phase of the West Metro, which will enter into service in early 2017.
The 7km extended track will add five stations to the line between Matinkylä and Kivenlahti in Espoo.
EIB’s president Werner Hoyer said: “Operations like this show that the benefits of the EIB’s operations are quite tangible on the ground.
“The mission of the EU Bank is to improve people’s lives through the transactions it performs; I think that helping to improve local public transport is a very good way of doing that. If citizens can travel faster and more comfortably, that improves their lives, even if they don’t always realise it.”
Espoo mayor Jukka Mäkelä said: “The West Metro extension in Espoo is not only an investment in public transport but also an investment for the whole area. The West Metro’s growth and development corridor links up the southern part of the city and connects the whole area to the metropolitan area of Helsinki.”
* Data provided by Timetric's Construction Intelligence Center.