Tampereen Raitiotie Oy

The uncommitted credit facility has been provided for the Finnish Tampereen Raitiotie Oy for financing of investments in phase 3 of the tramway network in the City of Tampere and Municipality of Pirkkala in Finland.

The investment programme focuses on the expansion of tram tracks, with construction of 13.6 kilometres of new tracks and procurement of new trams. Once completed, the total network will cover over 36 kilometres of track, served by 35 trams.

The tramway project is one of the largest infrastructure investments in the Tampere region, and the tram network is at the heart of its public transport system. By 2040, approximately 60% of Tampere’s population is expected to have access to the tramway network’s stops.

The tramway expansion constructions will be implemented in phases. In the first phase, tramway sections will be built from Sori Square to Partola and from Kauppi Campus to Ruotula. Services to these destinations is expected to begin in 2028. In phase 2 (2028–2032), tram sections will be constructed from Partola to Suuppa and from Ruotula to Linnainmaa. Tram services to both Suuppa and Linnainmaa are scheduled to start in 2032.

The borrower, Tampereen Raitiotie Oy, is a special purpose company established to develop and maintain the tramway in Tampere region. The company is responsible for the construction of the tram infrastructure, the procurement of rolling stock and other equipment related to the project. The company is currently majority owned by the City of Tampere, with minority ownership held by the Municipality of Pirkkala, the City of Ylöjärvi and the City of Kangasala.

The project is a significant upgrade to the public transport system in Tampere, which is among the fastest growing urban areas in Finland. The tramway will increase public transport access and capacity, and it will be the most productive option for the provision of public transport services in the area.

The project will result in improvements in service quality, and reductions in operating costs and travel times. According to the estimates, Tampereen Ratikka is expected to handle approximately 100,000 daily rides by 2030.

The Pirkanmaa Centre for Economic Development, Transport and the Environment (ELY Centre) has determined that the Tampere regional tram project does not require an environmental impact assessment or a separate water permit. The most significant negative effects during construction include climate impacts, noise, dust, vibration from construction sites, and disruptions to traffic flow. Tampereen Ratikka has implemented mitigation measures such as using low-emission materials, recycling soil and demolition materials, and utilising renewable energy on site.

The project is EU Taxonomy-eligible. It meets the Substantial Contribution criteria, as the light rail extension features electrified tracks and is not dedicated to the transport of fossil fuels.