Nordicum - Real Estate Annual Finland 2010 | Page 30

REAL ESTATE SPECIAL REPORT

Länsimetro
Nykyinen metrolinja
Metroasema
Asemavaraus
Kuilurakennus
Ajotunnelit

Sixteen minutes of fame
Construction of west metro line kicks off
The construction phase of the west metro has been
launched. At the end of November, the construction
commenced in Ruoholahti, Helsinki – and Finland’s
largest infrastructure project is finally ‘GO’. The
brand new metro line will be opened in 2014.

have fixed costs to the tune of
80 million euros.” Of this figure, 50 million consists of planning costs and 30 million comes
from purchases.

Split the Bill

T

he west metro is a long-time
dream for the citizens of the
capital region. Metro traffic began in Helsinki in 1982 and the
metro line has been expanded
many times since. The extension of the metro line to Espoo
has been on the table ever since
the metro was introduced, and
the development of the public
transport system from Helsinki
to the west has been studied on
several occasions.
The design process for the
west metro was finally launched
in March 2007 as the Espoo City
Council and the Helsinki City
Board came to see eye-to-eye
on the issue. The construction of
the west metro was approved by
both City Councils in May 2008.
28 Nordicum

Olavi Louko, Technical
Deputy Mayor for the City of
Espoo, believes that the time is
right to roll up the sleeves and
start digging.
“The metro line is one of
the key engines for development in the region and a strong
backbone in times of economic turmoil, also,” he says. Finding construction experts is now
easier than, say, two years ago,
since there isn’t too much building going on in the land.
“The price level is quite
reasonable right now,” he says.
Matti Kokkinen, Managing Director of Länsimetro Oy,
agrees with Louko’s assessment:
“At present, the price level is that of 2007 and we already

The total costs of the west metro
are estimated at € 713.6 million.
Espoo and Helsinki have agreed
to distribute the costs in accordance to a “split at the border”
principle: both cities will cover the costs of construction incurred in their own areas. Subsequently, Espoo’s share will
be 72 percent and Helsinki’s 28
percent.
Furthermore, the State has
agreed to participate in the construction costs of the west metro with a share of 30 percent.
Kokkinen states that the
metro project is also a very
green venture, since quality public transportation is one
of the key issues in the fight
against Climate Change.
“Timing for this is a good

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