OREANDA-NEWS. November 17, 2015. The European Investment Bank (EIB) is providing a EUR 100m loan to the City of Tampere for the construction of a 2.3 km road tunnel – the longest in Finland – and the related interchanges and road improvements. The Tampere tunnel will be under construction until 2017. After its completion, the tunnel will contribute to the development of Tampere’s central areas, while also improving the flow of traffic and road safety.

EIB Vice-President Jan Vapaavuori said, “The European Investment Bank strongly supports sustainable transport projects and dynamic urban development. We are therefore particularly pleased that the City of Tampere is working again with the EU bank to address this huge challenge of building the longest tunnel in Finland. The Rantatunneli will not only tackle the main urban bottleneck but also transform Tampere into a more attractive and accessible place to live and work, making the whole region more competitive.”

Anna-Kaisa Ikonen, the Mayor of the City of Tampere, added, "The tunnel is a significant investment for the city of Tampere.  In the future, it will enable traffic to flow smoothly across the narrow isthmus as the city grows. It provides scope to build a new Ranta-Tampella residential area on the shore of Lake N?sij?rvi and connects the Mustalahti, S?rk?nniemi and Onkiniemi areas to the city centre. It will also have a significant impact on employment. The Rantatunneli budget is EUR 185m, of which the City is covering two-thirds. In the near future, the City of Tampere will have to make other big investments and that’s why it is important that we are able to finance the tunnel with the European Investments Bank’s affordable and long-term loan as set out in the contract.”

The EUR 100m long-term loan from the EIB will finance the construction of a new 4.2 km motorway, including a 2.3 km twin tunnel and improvements to 4.4 km of adjacent roads. The Rantatunneli project is not only beneficial for Tampere but for the broader Pirkanmaa region, as it will improve the flow of traffic on the Pirkanmaa trunk road network, which is crucial considering the large volumes of traffic that pass through Tampere.   

The tunnel will also improve access to the city and the project will transform central Tampere, creating new residential and recreational areas. This is very welcome as Tampere is a growing city to which 2 000 new residents move each year. The cultural heritage aspect of the Mustalahti harbour, including the land area reclaimed from the lake, will be better preserved thanks to this investment.

The EIB participates in projects which have positive effects on the environment and the tunnel will not only reduce noise levels but also improve the air quality situation in central Tampere. In addition, this investment will generate employment opportunities during the construction of the tunnel itself (around 1 000 man-years) and during the construction of the new Ranta-Tampella residential district which will require thousands of man-years of work.

Today’s EIB support to the City of Tampere builds on previous cooperation in 2001 when the Bank co-financed the modernisation of the Naistenlahti cogeneration power plant and the upgrading of the city centre, in particular the former industrial sites of Tampella and Finlayson.