finest bay area development the helsinki-tallinn tunnel ... · xmaritime spatial planning + fin/est...
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FinEst Bay Area DevelopmentThe Helsinki-Tallinn Tunnel Project
3.12.2018 FinEstBayArea Development Group
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FINEST BAY AREA DEVELOPMENT GROUP © | STRATEGY 2018
EXCELLENT GLOBAL LOCATIONAT THE HEART OF EURASIA
● Finland is the closest neighbor of China, India and Japan in the EU
● Direct 6-8 hours connections to several cities in China, India, Japan and rest of Asia
2
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CONFIDENTIALFINESTLOVE LTD | STRATEGY 2018 3FINEST BAY AREA DEVELOPMENT GROUP © | STRATEGY 2017 CONFIDENTIAL
Finest Bay Area Global AttractionFINLAND
Best EducationHappiest NationCleanest AirLeast Corruption
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CONFIDENTIALFINEST BAY AREA LTD © | STRATEGY 2018
Helsinki-Vantaa Airport
The Island
Tallinn
Aalto OtaKeila
Four Stations20 min end to end
103km tunnel
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FINEST BAY AREA LTD © | STRATEGY 2018 CONFIDENTIAL
Tallinn
St. Petersburg
Finland-Estonia tunnel
HIgh speed tracks to St Petersburg and Tallinn
Espoo Helsinki
THE HELSINKI TALLINN METRO AREA2 MILLION+ PEOPLE AT THE HEART OF EURASIA
The Island
5
The Helsinki-Tallinn Tunnel● Creating center of gravity● Enabling future growth● Affordable housing at scale● University Platform
Vantaa
Saar
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Sweden's capital is swelling more rapidly than any other
city in Europe, with its population expected to expand by
11 percent from 2015 to 2020
Stockholm is the fastest growing city in Europe
Europe's fastest growing cities
Stockholm 11%
Copenhagen 10.3%
Helsinki 5.7%
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Helsinki-Tallinn Traffic Growth
Helsinki is the busiest passenger harbor in the world. Surpassed Dover in 2017Growth fueled by Helsinki-Tallinn trafficHelsinki-Tallinn 2 hours by ferry
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Tallinn
EspooHelsinki
Helsinki Airport
Tallinn
EspooHelsinki
Helsinki-Tallinn Airport
125 M
10 M
200 M
50 M
Passenger traffic volumes
Current Assumptions 203070 M
20 M
3 M
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CONFIDENTIALFINEST BAY AREA LTD © | STRATEGY 2018
The Tunnel Project
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CONFIDENTIALFINEST BAY AREA LTD © | STRATEGY 2018
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Mechanised tunneling by TBMTBM = Tunnel Boring Machine
07 May 2018 TBM Tunnelling
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Tunnel Project Timelines
• Project design, permits and planning 2017-2019
• Construction start 2019-2020 • Tunnel operational 24.12.2024
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FINEST BAY AREA DEVELOPMENT GROUP © | STRATEGY 2018
Tallinn Tallinnmadal Ulkomatala Otakeila Airport Depot 360Distance 35 km 33 km 21 km 18 km 9 km 1.090909
17,5 km from both directions
16,5 km km from both directions
10,5 km km from both directions
9 km km from both directions
9 km from depot
Method TBM TBM TBM TBM D/BNumber of TBM's 4 4 4 4 16Needed adavnce /a (km) 5.8 5.5 3.5 3 2.2required boring time 3 yearsm/day (330 workingdays/a) 17.5 16.6 10.6 9.1 6.7
Tunnel boring with 25 m/day speed 700 days 660 days 420 days 360 days2,1 a 2,0 a 1,3 a 1,1 a
Permissions > TBM orderQ4/2019Q1/2020 Building of drop caisson and gallery excavationsQ2/2020Q3/2020 TBM:n installationQ4/2020Q1/2021 Tunnel excavationQ2/2021Q3/2021 Technical installationsQ4/2021Q1/2022 Testing and aceptance perionQ2/2022Q3/2022 Building of track yard and connecting lineQ4/2022Q1/2023 D/B tunnel excavationQ2/2023Q3/2023Q4/2023Q1/2024Q2/2024Q3/2024Q4/2024
Station Shaft or station Station Station Station Depot
Tunnel construction detailed timeline:
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Environmental Impact Assessment
Permits, Approvals and Licenses
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ACCELERATED AND PARALLEL PROCESSING FOR PERMITS AND LICENSES IS NEEDED
x General plan, preliminary overview of the project plan
x Comprehensive Environmental Impact Assessment EIA
x Espoo Convention on EIA general agreement, transboundary context
x Maritime spatial planning + FIN/EST national legislation. Stipulated by the EU Maritime Strategy Directive Æ FIN, EST national strategies
x The evaluation of Natura 2000 -protectedmaritime areas + Baltic Special Protected Areas, BSPAs. Many BSPAs are protected under national or international legal regimes
x Regional land use plans covering general planning over to national sea frontier lines. Artificial islands permitted by the respectivecountries / regions
x Zoning plan + City plans (land use) for under-ground tunnels, railways, traffic networks, stations
Preliminary list for required permits and licenses
DECEMBER 2016PÖYRY PRESENTATION 15
x Activities on Exclusive Economic Zone EEZ (outside the Seafrontier areas) need an approvalfrom the state).
x Law on water resources, applicable also within sea frontiers and Economic Zone Æ Permits for water resource utilization
x Tunnel construction regulations (EU-level, national level). Railway tunnel regulations and EU Directives
x Law on railroad construction Æ Plans ÆPermission to construct a railroad
x Safety & rescue requirements stipulated by the laws and requirement
x Construction permits inlandx Construction permits off-shore (artificial island)x Permits for boring under the seabedx Impacts on fishery (part of EIA) covering the
Baltic area
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FINEST ENVIRONMENTAL IMPACT ASSESSMENTEIA PROGRAMMENATURE SURVEYS
Karoliina Jaatinen, Project manager, EIA process, PöyryMikko Inkala, BU President, Infra Design, PöyryTimo Saanio, Vice President, A-Insinöörit, AINS Group
December 3, 2018
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FINEST BAY AREA PROJECTTUNNELS WILL BE EXCAVATED USING TBM AND DRILL & BLAST
DECEMBER 2018 17
The deepest vertical point of alignment at the depth of -250m from the sea level.
Original sourge of picture: FinEst Link 2018: Helsinki-tallinn Transport Link. Feasibility Study – Final report 100 s.
PÖYRY
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FINEST BAY AREA PROJECTPRELIMINARY TUNNEL CROSS SECTION AND CONCEPT
xTwo railway tunnelsxExit cross tunnelsxDiameter up to 17,5 mxTotal excavated amount of rock
more than 80 million m3
DECEMBER 2018 18
Original sourge: www.herrenknecht.com
PÖYRY
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FINEST BAY AREA PROJECTPOSSIBLE ROUTES
x Four lines to be studied during the EIA procedure– red VE1a and green VE1b– VE2 reference line from the Finest Link
feasibility Study¾3 different comparable alternatives in the EIA
procedure and a ”0+-alternative”x Cargo terminalx Stations:
– Helsinki-Vantaa Airport– Ilmala / Finnopolis– Otakeila– ”The Island”– Tallinn Ülemiste Airport
x Access tunnelsx Artificial islandx Shafts
DECEMBER 2018 19PÖYRY
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FINEST BAY AREA PROJECTPOSSIBLE ROUTES IN ESTONIA
x In Estonia:– VE1a: maintenance island on Uusmadal– VE1b: maintenance island on
Tallinnamadal– VE1c: maintenance island on Nygrundi
madal– VE2: maintenance island on
Tallinnamadal– VE0+: not to implement the project but
concidering some future scenariosx Artificial islandx Stations:
– Tallinn Airport in Ülemiste
DECEMBER 2018 20PÖYRY
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PROJECT DEVELOPER, AUTHORITY AND EIA CONSULTANT
Project developer:Finest Bay Area Development Oy/ Kustaa Valtonen & Peter Vesterbacka
Liaison authority in Finland is the Centre for Economic Development, Transport and the Environment in Uusimaa; Leena Eerola
EIA consultant:Pöyry Finland OyProject manager: Karoliina JaatinenProject coordinator in Estonia: Entec Eesti OÜ, Andres Piirsalu
Technical design, consortiumPöyry Finland OyA-Insinöörit OyFira Oy
21DECEMBER 2018
PÖYRY
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COPYRIGHT©PÖYRY 22
¾ EIA & technical designing: 40 experts in Finland and Estonia
DECEMBER 2018 PÖYRY
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FINEST BAY AREA PROJECTGENERAL PRINCIPLES OF ENVIRONMENTAL IMPACT ASSESSMENT (EIA)
x To examine the project’s environmental impacts for the entire planned tunnel route alternatives and related activities. Both construction and operation phases have to be examined.
x Two phases in the EIA Process: 1) EIA Program 2) EIA Report
x The EIA procedure has to be conducted both in Finland and Estonia in compliance with the national legislation.
x International hearing has to be arranged due to the international dimension of the project and possible transboundary effects.
x The coordinating authorities are
– The Uusimaa Centre for Economic Development, Transport and the Environment
– Finnish Ministry of the Environment
– Estonian Ministry of Economic Affairs and Communications.
DECEMBER 2018 23PÖYRY
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STATUS OF THE EIA
DECEMBER 2018 PÖYRY 24
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DECEMBER 2018
PÖYRY 25
EIA REPORTDIFFERENT IMPACT CATEGORIES INVESTIGATED
• Seabed• Soil, bedrock and groundwater• Hydrology and water quality• Marine environment• Fish & fisheries• Noise• Vibration• Traffic and traffic safety• Air emissions
• Flora, fauna and protected sites• Land use and built environement• Ladscape and cultural environement• People and society• Waste and waste handling• Exeptional accident situations• Transboundary impacts
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x New separate studies are also needed for the EIA report. These include:– Underwater archeological surveys– Underwater nature inventory by diving– Sea bed sediment quality survey– Birdlife studies– Fisheries studies– Unexploded ordnances (UXO’s) study– Water quality and flow modelling
DECEMBER 2018
PÖYRY 26
EIA REPORT
Pictures: Jouni Leinikki, Karoliina Jaatinen
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Pöyry EIA contact person:Senior Consultant Karoliina Jaatinenmobile +358406604407
Consulting. Engineering. Projects. Operations. www.poyry.com
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Consortium partners
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Project Funding
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Phased Funding
Project preparation
Planning and design
ConstructionFunding 1
Funding 2
Funding 3
17 19 20 21 2218 23 24 25
Test and operate
16
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Financials
Tunnel project estimate total cost 15B€Design 750M€Construction 12,5B€Project management 1B€Management 750M€
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Financial model based on World Bank methodology
• Project finance methodology is based on Rail Reform Toolkit provided by World Bank and PPIAF (2017)
• Additional calculations and application is provided by the Finest Bay Area Development Company
• Benchmark operators are• Getlink (Channel Tunnel)• Tallink (Baltic sea ferry operator)• VR (State Railway in Finland)
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Assumptions for financial calculations• Total tunnel investment 15 017 M€• Discount Interest rate 6%• Inflation rate 2%• Tunnel investment timespan 30 years • Tunnel life-cycle is 120 years, major service interval 40 years• Residual value after 30 year is assumed to be 60% of nominal investment,
9 160 Mۥ Passenger traffic and freight included in investment calculations
• 51 M annual trips (2016: 9M)• € 50 single (41% of passengers)• € 100 return (42% of passengers)• € 2 499 annual pass (17% of passengers)• 22 M tonnes freight (2016: total 8,4M)
*ROI= net income / investment
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Fare and tariff assumptions
Facts: pricing 11/2018*• Finnish train 2018
• Helsinki – Oulu 56€• Helsinki – Tampere 18€• Helsinki – Lahti 13€
• Finland - Estonia ferries 2018• Tallink, return 50€ (2,5h)• Eckerö line, return 24€ (2h 15min)
• Finland – Estonia flight 2018• 165 € (30min)
Helsinki - Tallinn pricing assumptions2024*• Inflation assumption 2% p.a. will
result 13% price increase in allprices
• Reference prices• Tallink return 56,5€• Finnair flight 186,5
• Tunnel train will be 10 min fasterthan flight
• Pricing arbitrarily assumedbetween flight and ferry ticketprices: 100€ return ticket
*single adult
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Group cash flow breakdown*
*Debt payments not included** Interest rate assumptionc 5% + 2% margin
**
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Cumulative cash flow IRR 10,11%Payback period17 years
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Impact on Finnish GDP is significant
200 000
220 000
240 000
260 000
280 000
300 000
320 000
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028
GDP FIN FORECAST
GDP FIN (nominal) GDP FIN FORECAST (ETLA 2019-2020, 1,7% onwards)
GDP FIN incl. 90% FBADC (1x, nominal terms) GDP FIN incl. 90% FBADC, indirect (2x, nominal terms)
GDP FIN incl. 90% FBADC, indirect, real-estate (10x, nominal terms), 3y lag
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Industry investments in Finland will almostdouble in 2022-2024
-
1 000
2 000
3 000
4 000
5 000
6 000
7 000
8 000
9 000
2018 2019 2020 2021 2022 2023 2024 2025
Industry Investments, forecast, M€
Investments, industry, FIN (ETLA forecast 2019-2020, 1,5% onwards) Investments, industry incl. 80% FBADC, FIN (ETLA forecast 2019-2020, 1,5% onwards)
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Impact on Estonian GDP is even larger
15 000
17 000
19 000
21 000
23 000
25 000
27 000
29 000
31 000
33 000
35 000
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028
GDP EST FORECAST
GDP EST (nominal) GDP EST FORECAST (2019-20 EU Comission , 2,7% onwards)
GDP EST incl. 10% FBADC (1x, nominal terms) GDP EST incl. 10% FBADC, indirect (2x, nominal terms)
GDP EST incl. 10%FBADC, indirect, real-estate (10x, nominal terms), 3y lag
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Tunnel has positive impact on GDP growthCase 2021: increase in GDP growth (% point)Direct: FIN +0,6% EST +0,6Indirect: FIN +1,2% EST +1,6
GDP growth forecast scenarios FIN and EST 2018 2019 2020 2021 2022 2023 2024 2025GDP FIN (%) 3,0 % 2,3 % 1,7 % 1,7 % 1,7 % 1,7 % 1,7 % 1,7 %GDP FIN incl. 90%FBADC (1x, %) 3,0 % 2,3 % 2,0 % 2,3 % 2,0 % 1,7 % 1,6 % 0,8 %GDP FIN incl. 90% FBADC, indirect (2x, %) 3,0 % 2,4 % 2,4 % 2,9 % 2,4 % 1,7 % 1,5 % -0,1 %GDP FIN incl. 90% FBADC, indirect, real-estate (10x, %), 3y lag 1,7 % 2,1 % 4,8 % 7,2 % 4,8 %
GDP EST (%) 3,5 % 2,7 % 2,7 % 2,7 % 2,7 % 2,7 % 2,7 % 2,7 %GDP EST incl. 10% FBADC (1x, %) 3,5 % 2,7 % 3,1 % 3,3 % 3,1 % 2,7 % 2,6 % 1,8 %GDP EST incl. 10% FBADC, indirect (2x, %) 3,5 % 2,8 % 3,4 % 3,9 % 3,4 % 2,7 % 2,4 % 0,8 %GDP EST incl. 10% FBADC, indirect, real-estate (10x, %), 3y lag 2,7 % 3,1 % 6,0 % 8,3 % 5,8 %
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Latest News
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Ticketing andInnovation Platform
Tickets available:
https://shop.finestbayarea.online/
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Funding Path
Funding is raised in annual batches every Q1
30% equity and 70% loan
Balanced source of investment, 50/50 Asia-Europe
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First funding round done
• Equity funding of 100M€
• ARJ Holding Ltd. Dubai
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FINEST BAY AREA DEVELOPMENT GROUP © | STRATEGY 2018
www.finestbayarea.online
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How to follow theproject?
Facebook: ”FinestBayArea Tunnel Project”
YouTube: FinestBayArea Channel & withFinestbayarea search word videos
Website: www.finestbayarea.online