The man planning to build an undersea train tunnel between the Finnish capital Helsinki and the Estonian capital Tallinn has said he wants China Railway Group Ltd (CREC) to build it.
"This week, we are signing a letter of intent with the Chinese CREC, the world’s largest construction company," said entrepreneur Peter Vesterbacka, whose group, FinEstBay Area Development, is promoting the estimated $20bn scheme.Â
Vesterbacka said the Chinese construction giant specialised in railway projects and had built over 18,000km of railway tunnels in China.
The 100km-long tunnel already has Chinese financing in principle.
In March FinEstBay Area Development signed a memorandum of understanding for $16.8bn from China’s Touchstone Capital Partners for the link.Â
Vesterbacka has claimed the tunnel could be built as soon as the end of 2024.
The needs backing from the two governments and the European Union.
Image: FinEstBay Area Development’s visualisation of the double tunnel