Finnish airport operator Finavia Corporation and the European Investment Bank (EIB) have signed a loan agreement of €150m (US$163m).
The financing will be used for phase IV of Helsinki Airport’s expansion plans, featuring the extension of Terminal 2 with a new arrivals and departures hall, new gates, increased border control capacity, and better connection to public transportation and taxi services.
The project is expected to alleviate bottlenecks in the Schengen area, as well as between the airport and the rail, bus and taxi services, thus enhancing links to public transportation. The financing will also enable Finavia to expand the baggage handling system and passport control areas, with the objective of smoother transit of passengers and luggage. With these interventions, Helsinki Airport’s annual capacity is expected to rise to about 30 million passengers per year.
The expansion will include a new departures hall with 76 check-in desks and a new arrivals hall. Airside, the border control area will be expanded to include 24 passport check lines and 20 automated kiosks for both arrivals and departures. Landside, apart from the remodeling of the bus and taxi area, a new tunnel connection to the ring rail connection will be built. Finally, new parking facilities will be opened with 1,800 additional parking spots.
Finavia CEO Kimmo Mäki said, “Being the number one networked hub in the Nordic region, our aim is to offer passengers good and smooth connections worldwide. We want to stand out by providing an exceptionally good customer experience and sustainable operations at Helsinki Airport.”
In addition to creating employment during the construction phase, once completed, the project is expected to contribute to the creation of up to 5,000 new full-time jobs in and around the airport.