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E18 Highway, Finland

A 56km stretch of the E18 European motorway in Southern Finland from Koskenkylä to Kotka. In operation since 2015

Background

In 2011 Meridiam, in a consortium with two major Finnish construction and road maintenance companies, YIT and Destia, as well as Ilmarinen, a leading Finnish pension fund, was awarded the E18 Motorway Koskenkylä–Kotka project by the Finnish Transport Agency (FTA). The project consists of the design, construction, renovation, financing, maintenance and operation of a 53-km stretch of the E18 motorway between Koskenkylä and Kotka, in southern Finland.

E18 is part of the Trans-European road network, on a vital corridor connecting Scandinavia to Russia via Helsinki. The reconstruction of the road to motorway standards, in order to improve connectivity and safety and to promote economic growth in the region, formed a central plank of Finland’s transport strategy.

Meridiam, the main shareholder of the Project Company, initially held 60% of the invested equity. Following the acquisition of 60% of the subordinated debt of Destia and of 100% of YIT’s junior funds in 2014 and the acquisition of YIT’s equity share in 2016, Meridiam now holds 70.05% of the equity and 76.08% of the subordinated debt.

Stage:

In Operation, completion date 30 September 2015

Pilot project

for Finland, successfully delivered and operated

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of a vital artery connecting Scandinavia to Russia via Helsinki

8,000-19,000

Vehicles per day

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