Twin-Port II: Tallinn-Helsinki Route Receives €29 Million
- New Europe Investor
- July 17, 2015
The sea connection between the capitals of Estonia and Finland will receive a huge amount of European Union funding to develop the route.
The project is to be named Twin-Port II, and the money will be used to develop the two ports. The remainder of the €64 million project is to be paid by the two countries.
The Port of Helsinki will receive €19 million of the funding to develop a new terminal and connections into the city centre.
The Port of Tallinn will receive €5 million to develop one of the ports and improve the traffic situation at another of the terminals.
Estonia will also receive €5 million towards the cost of a €230 million ship to begin on the route in 2017.
The sea route is of huge importance to the two countries who have very close economic, social and political ties.
8 million people travel the route every year.
There is an ongoing debate regarding the construction of a rail link between the two cities. However, it is likely to be decades away if it becomes a reality.
The cost of the 50 km tunnel between would be up to €20 billion.