Service agreement signed for E18 Hamina–Vaalimaa motorway – Hannes Snellman counsel to the FTA
Today, the Finnish Transport Agency (FTA) and Tieyhtiö Vaalimaa Oy have signed a nearly 20-year service agreement to build and maintain the Hamina–Vaalimaa motorway on a public-private partnership basis. The agreement includes the planning, construction, funding and maintenance of the motorway. The road is planned to open to traffic in spring 2018. Road construction works are expected to commence immediately. The main contractor is YIT Construction Ltd. The shareholders in Tieyhtiö Vaalimaa Oy are Meridiam Infrastructure Finance II S.à r.l and YIT Corporation. Inspira acted as the financial advisor. The total value of the agreement is 378 million euros.
The E18 Hamina–Vaalimaa project comprises 32 kilometres of new motorway and the related road arrangements. The road section yet to be built is the final section of the E18 motorway, which will cross the country from Turku to the eastern border. The project also includes the building of waiting area arrangements for heavy vehicles close to the Vaalimaa border station.
Hannes Snellman acted as legal advisor to the FTA.