State of Finland to provide capital for developing rail transport

The Government Plenary Session decided today on 21 February 2019 to authorise the Prime Minister’s Office to provide capital for Nordic Railways Ltd (Pohjolan Rautatiet Oy).

The State will hand over shares of Neste Oyj to Nordic Railways Ltd in equity funding up to the maximum of EUR 107 million.

Nordic Railways Ltd under the ownership steering of the Ministry of Transport and Communications is a limited liability company wholly owned by the State of Finland, earlier known by the working name Oy Suomen Rata Ab. Nordic Railways Ltd was established for the purpose of comprehensive development of the rail transport sector and for promoting large-scale investment in railways. Nordic Railways Ltd will in turn provide capital to the opening balance sheets of its subsidiaries. The Ministry of Transport and Communications published a press release on the project on 1 February 2019.

Inquiries: Kimmo Viertola, Director General, +358 295 160 026, [email protected]