The Ministry of Transport and Communications may sign the founding documents and subscribe for shares in a limited company to be established on behalf of the state.
The Finnish state has committed to recapitalize the company in accordance with the terms of the shareholder agreement.
The company’s task would be to plan and finance the Lentorata – Porvoo – Kouvola line project until the line is ready for construction.
On 28 September 2021, the Committee on Economic Policy supported the establishment of an Eastern Railway project company.
On 28 October 2021, the Government authorized the Ministry of Transport and Communications to approve the liquidation of Nordic Railways Oy (Pohjolan Rautatiet Oy) on behalf of the state. The company was established in February 2019 to comprehensively develop rail transportation services. It has no business.
What next?
The Eastern Rail Link Project Company will be established at the end of the appeals period for municipal decisions.
The precondition for the establishment is that the financial commitment of the Finnish state in the start-up phase does not exceed 51% of the total amount of financial commitments.
Any grievance processes may have an impact on the company’s incorporation schedule, so the exact incorporation date cannot be stated.
Source: Ministry of Transport and Communications