Nordicum - Real Estate Annual Finland 2015 | Page 24

Going the Extra Mile
The Western metro went for an encore before
the line is even operational – the “bonus stretch”
enables smoother logistics and more effective
construction

September 29, 2014, provided ample cause for a celebration. The City Council of Espoo
decided to issue an absolute guarantee for the loans that finance Espoo’s share in the
construction of the West Metro line Matinkylä-Kivenlahti. This means, in effect, that the
continuation line for the western metroline with five new stations will, indeed, be built.

A

t the same time, it was decided that
Länsimetro Oy shall be responsible
for the line’s construction, which was,
pretty much, a no-brainer. After all, the same
company has been in charge of the metro
project from day one, with City’s Deputy
Mayor Olavi Louko even serving as the
Chairman of the Board.
More significantly, however, the
expansion project had also managed to
secure the financial support of the state.
The government headed by newly appointed
Prime Minister Alexander Stubb saw the
value in continuing the “biggest infrastructure project in the country.”

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“Now that the original project is nearing its conclusion, it made perfect sense
that we keep going,” says Matti Kokkinen, Managing Director of Länsimetro Oy.
According to Kokkinen, continuing the project on-the-fly is clearly the way to go since
there are labour, expertise and equipment
available.

Don’t Stop Me Now
Having to stop now and pick up the pieces,
say, five years from now, would have been
very costly indeed. Olavi Louko agrees
with Kokkinen: “We have a great momen-

tum going and are glad for the political will
that saw this project through.”
The City of Espoo is asking for the
state to pay 30 % of the investment, but not
right away. The government money should
come in around 2017–2020.
“Also, it is no small thing that the Government is helping to secure jobs for 4,500
people by giving the green light for this
extension. It is difficult to imagine another
project of this scope which yields so much
benefits and provides such a stimulus during an economic downturn,” Louko says,
crediting Stubb’s government for making
the right move. After all, the parliamentary