News

Inspira and Hannes Snellman have been chosen as advisors to the state in the E18 Koskenkylä-Kotka PPP project

19 August 2010

Inspira Oy and Hannes Snellman Attorneys Ltd have been chosen as advisors to the Finnish Transport Agency in the new PPP project involving the construction of the E18 motorway between Koskenkylä and Kotka. Inspira will be responsible for the economic and financial advice and Hannes Snellman for the legal advice.

This PPP project is one of the largest infrastructure projects in Finland and covers the planning, construction, and long-term maintenance of the 53 km long motorway. The construction costs are estimated at EUR 285 million and the nominal amount reserved in the state budget for the whole project term is EUR 650 million.

The financial and legal advisory services cover, among other things, the financial modelling of the project, risk analysis, as well as procurement and contract documentation. Director Riku Tolvanen of Inspira is in charge of the financial advice and partner Rabbe Sittnikow of Hannes Snellman is responsible for the legal advice. Specialist partner Mika Pohjonen of Hannes Snellman is in charge of the issues related to public procurement. The same team was earlier this year chosen to represent the Finnish Transport Agency in the PPP project related to the construction of a railway track between Kokkola and Ylivieska.

“Advisory services play an important part in implementing successful PPP projects”, says Hannu Lehtikankare, project manager of the E18 Koskenkylä-Kotka PPP project at the Finnish Transport Agency. “Inspira and Hannes Snellman have an exceptionally broad experience when it comes to representing the public sector in Finnish PPP projects and I’m certain that the Finnish Transport Agency will receive excellent advisory services in connection to this important project”, Lehtikankare continues.

Ernst & Young (tax and risk analysis), Aon Finland (insurance) and the U.K. law firm Berwin Leighton Paisner (international PPP issues) will act as subcontractors in relation to the legal and financial advisory services. A-Insinöörit Oy acts as a planning and construction consultant in the project.

Inspira Oy is a subsidiary of Kuntarahoitus Oyj and offers independent financial advice to the public sector. Inspira has advised the public sector in a number of Finnish PPP projects, for instance in the above mentioned Kokkola-Ylivieska railway project and school construction PPP projects in Espoo and Kuopio, to mention but a few. Moreover, Inspira has advised municipalities in a number of other PPP-related assignments. Inspira currently employs 8 financial experts.

Hannes Snellman Attorneys Ltd is a law firm with approximately 300 employees in Helsinki, Stockholm, Moscow, and St. Petersburg. When it comes to PPP projects, Hannes Snellman has broad experience of representing the Finnish government, for instance in the motorway E18 Muurla-Lohja PPP project and the above mentioned railway Kokkola-Ylivieska PPP project. In addition, Hannes Snellman has represented the service producers in the local Kuopio schools PPP project as well as advised various parties in a number of other PPP-related assignments.

Contact information:

Hannes Snellman
Rabbe Sittnikow, Partner
Tel. +358 9 2288 4343
rabbe.sittnikow@hannessnellman.com

Inspira
Riku Tolvanen, Director
Tel. +358 50 577 2653
riku.tolvanen@inspira.fi

E18 Koskenkylä-Kotka project
Hannu Lehtikankare, project manager, the Finnish Transport Agency
Tel. + 358 20 637 3555
hannu.lehtikankare@liikennevirasto.fi