A Memorandum of Understanding was signed between FinEst Bay Area Development, TouchStone Capital Partners, China Railway International Group and GAMA for the construction of a 15 km submarine tunnel to be built in the Baltic Sea with an investment cost of 100 billion Euros.
GAMA, which brought the Marmaray Project that connects Asia and Europe to Istanbul, signed a Memorandum of Understanding to build the Talin-Helsinki Tunnel, which is intended to be the longest submarine tunnel in the world under the E FinEst Bay Area Development ”project.
The 100 km Talin-Helsinki submarine tunnel project, supported by the Finnish and Estonian Governments to ease heavy gulf ferry traffic, has a total investment cost of € 15 billion (US $ 16,5 billion) and is planned to be funded by Chinese financial company TouchStone Capital Partners and other international investors.
GAMA's second ENR ranking, China Railway International Group and TouchStone Capital's joint project is planned to be completed in 2024. The project will bring together the cities of Tallinn and Helsinki, which can be reached in 3 and a half hours by road and in 2 hours by ferry, under 20 minutes.