ARTICLE · 11 MARCH 1999

Privately funded projects in Finland

Castrén & Snellman

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FinlandGovernment, Public Sector

Pekka Lehtinen

1. CASE: HIGHWAY FOUR PROJECT

Background

The government of Finland wanted to upgrade a busy 69-kilometre section of two-lane road number four (E75) between Järvenpää (near Helsinki) and Lahti to a four-lane motorway (Highway Four). This was considered a suitable pilot case to examine the applicability of private financing to the development of infrastructure in Finland.

In the summer of 1996 the Finnish National Road Administration, on behalf of the Finnish government, arranged an international competitive bidding procedure for the construction and maintenance of Highway Four by a private company. Five consortiums submitted tenders, and in December 1996 the Road Administration decided to negotiate exclusively with a consortium that had formed a Finnish limited liability company, Tieyhtiö Nelostie Oy. The main shareholders of the company are Skanska BOT Projects AB, Skanska Oy and Hyder Investments BV. The design, build, Finance and Operate (DBFO) contract and certain other

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