Govt forms 2 companies to develop railway

The government has established two limited liability companies – Finnish Rail Ltd (Suomi-rata Oy) and Turku One Hour Train Ltd (Turun Tunnin Juna Oy) to implement two large-scale railway projects.

The documents of establishing the companies have been signed according to which the Finnish government owns 51 per cent shares in both the companies, said a the Ministry of Transport and Communications in a press release on Tuesday.

“The establishment of the companies is an important milestone in our efforts to promote two large-scale railway projects and obtain full EU subsidies. In addition to the Finnish government, a total of 26 cities and municipalities and Finavia are involved in the project-implementing companies. This proves that we are strongly committed to developing all of Finland. Investing in rail transport is essential when we move towards sustainable transport,” said Transport and Communications Minister Timo Harakka.

The task of Finnish Rail is to plan the rail transport infrastructure related to the rail connection between Helsinki and Tampere via Helsinki Airport until the construction is ready to begin.

In addition to the Finnish government, the shareholders of the company are Finavia Corporation, Helsinki, Tampere, Vantaa, Hämeenlinna, Janakkala, Riihimäki, Lahti, Akaa, Jyväskylä, Oulu, Pori, Seinäjoki, Vaasa, Kangasala, Nokia, Orivesi, Pirkkala, Ylöjärvi, Kokkola, and Parkano.

Finnish Rail Ltd’s (Suomi-rata Oy) board has nine members with Kari Savolainen in the chair.

“Finnish Rail is one of the most important infrastructure projects since Finland’s independence. Efficient logistic connections from Helsinki Metropolitan Area to Northern Finland are vital to Finland’s competitiveness in terms of both passenger transport and freight transport,” said Savolainen, the chairman of Finnish Rail Ltd.

The task of Turku One Hour Train is to plan the railway infrastructure related to the Turku-Helsinki high-speed rail connection until the construction is ready to begin.

In addition to the government of Finland, the shareholders of the company are the cities of Turku, Espoo, Helsinki, Salo, Lohja, Vihti, and Kirkkonummi.

The company’s board has 13 members. Its board is chaired by Minna Forsström.

“I think this railway project is important and it is great to be involved in building the preconditions for a long time into the future. The Turku One Hour Train is a large-scale project that will genuinely benefit climate and lay the foundation for wellbeing in Finland,” said Minna Forström, the chair of the board of Turku One Hour Train Ltd.

The shareholders will pay the subscription prices for the shares, after which a notification of the establishment of the companies will be filed with the Finnish Trade Registrar. The limited liability companies will be officially established when they are registered with the Trade Registrar.

After establishment, the companies will organise themselves and launch their operations. Finnish Rail will promote the planning of the rail connection between Helsinki and Tampere via Helsinki Airport. Turku One Hour Train will plan the fast-speed rail link between Helsinki and Turku.