NIB finances Tampere Tram extension in Finland
NIB has signed a EUR 165 million 30-year uncommitted credit facility with the Finnish Tampereen Raitiotie Oy. The loan will finance the extension of the Tampere tramway network and the procurement of new trams.
Since the start of the Tampere tram service in 2021, passenger numbers have grown steadily. The new tram tracks, additional trams, and expanded tram models will respond to the additional capacity required. In addition, Tampere tramway is expanding its operations beyond the city’s boundaries with the new Pirkkala–Linnainmaa tramway, making Pirkkala the first municipality in Finland to be served by a tramway.
“Tampere is one of the fastest growing regions in Finland, and this project can significantly improve local sustainable public transportation. With the introduction of new tramlines, local commuters will not only benefit from better access and service quality but also from shorter journey times,” says André Küüsvek, NIB President and CEO.
“The Pirkkala–Linnainmaa tramway is one of the most significant infrastructure investments in the Tampere region over the next five years. The agreement with NIB is a major step in securing the project’s financing. We are very pleased to welcome NIB as one of the project’s trusted and experienced long-term financing partners,” says Antti Ainola, Head of Finance at Tampereen Raitiotie Oy.
The third phase of the tramway construction started in late 2024. When completed, it will add approximately 13.6 kilometres of tracks and new trams. The new rails will transport passengers in 2028 within Tampere from the Kauppi campus to Ruotula and across the municipal boundary from Sori Square to Partola, on the Pirkkala municipality side.
The third phase of the project will furthermore extend the Pirkkala tram network from Partola to the Suuppa residential area, and will further connect Ruotula with the Linnainmaa area in Tampere. This phase is expected to be completed in early 2032. Once fully completed, the total network will cover over 36 kilometres of tracks, served by 35 trams.
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.
NIB is the international financial institution of Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway, and Sweden. The Bank finances projects that improve productivity and benefit the environment of the Nordic-Baltic region. The Bank is headquartered in Helsinki with a regional hub in Riga. NIB has the highest possible credit rating, AAA/Aaa, with S&P Global Ratings and Moody’s.
For further information, please contact:
Roger Haaparinne, Senior Banker, at +358 10 618 0233, roger.haaparinne@nib.int
Lotta Forssell, Senior Communications Officer, at +358 10 618 0498, lotta.forssell@nib.int
