The metro was built westward in two phases – Länsimetro Oy owns the rail infrastructure and the stations
The construction of the West Metro was proceeding in two phases. Phase I, i.e. the Ruoholahti–Matinkylä section, was completed in 2017. Phase II, i.e. the Matinkylä–Kivenlahti section was opened on December 2022. An underground metro depot was also being built in Sammalvuori to serve the needs of the traffic operator. Metro traffic operator is Metropolitan Area Transport Ltd.
A metro is a major investment that brings vitality to communities and enables new housing and jobs in an eco-friendly way. The metro is a sustainable mode of public transport, and metro stations are planned with sustainability and attractiveness in mind. Metros increase the appeal of their catchment area as a location for businesses and other types of operations, as well as for living. To take an example, the insurance company Lähi-Tapiola has invested half a billion euros in the Tapiola district near one of the metro stations and Fiskars Groups moved into Keilaniemi.
Länsimetro Oy is the asset owner of the West Metro system, tracks and stations from Ruoholahti in Helsinki westwards Kivenlahti in Espoo and covers its ownership-related maintenance and debt-servicing costs using charges collected from its owners, i.e. the cities of Espoo and Helsinki. The section I was handed over to the operator HKL (nowadays Metropolitan Area Transport Ltd) in October 2017. The section II was handed over to the operator in 2023. Metropolitan Area Transport Ltd receives compensation from HSL for operating the metro traffic.
Länsimetro Oy’s permanent business activities are financed with charges collected from its owners, and construction activities are financed with financing secured by its owners. In 2022, EUR 2,4 million in administrative charges and EUR 19,2 million in maintenance charges were collected. Administrative charges collected from the owners are used to cover the company’s permanent operations. The financial stability of the company’s operations depends on the reliable planning of operations financed with charges and on forward-looking financing of construction operations.
You can also read about Länsimetro Oy’s group structure (in Finnish) and decision making.
Matinkylä–Kivenlahti construction project cost estimate
Ruoholahti–Matinkylä construction project cost estimate
BUDGET
| EUR 1,000 | 2020
actual |
2021
actual |
2022
forecast |
2023
budget |
2024
forecast |
2025
forecast |
2026
forecast |
2027
forecast |
| Maintenance charges | 13,623 | 19,038 | 19,153 | 34,141 | 35,059 | 35,563 | 36,402 | 38,770 |
| Administrative charges | 2,085 | 2,303 | 2,434 | 3,597 | 2,912 | 2,674 | 2,717 | 2,744 |
| Financing charges | 49,490 | 56,939 | 68,116 | 94,479 | 95,885 | 102,284 | 105,505 | 110,755 |
| Charges in total | 65,199 | 78,280 | 89,702 | 137,189 | 133,857 | 140,552 | 144,624 | 152,269 |
| Operating income | 667 | 969 | 1,343 | 5,301 | 5,303 | 5,236 | 5,154 | 5,132 |
| Maintenance expenses | -18,541 | -18,008 | -18,817 | -35,804 | -36,711 | -37,194 | -39,032 | -40,491 |
| Administrative expenses | -2,676 | -2,429 | -2,571 | -3,579 | -2,912 | -2,674 | -2,717 | -2,744 |
| Deprectiation and amortization | -32,570 | -32,271 | -36,543 | -60,691 | -61,164 | -62,065 | -62,980 | -63,094 |
| Financing expenses | -15,372 | -15,570 | -16,789 | -36,842 | -36,326 | -33,529 | -31,965 | -30,323 |
| Funds | – | -3,529 | -17,325 | -574 | -2,047 | -10,295 | -14,383 | -20,749 |
| Deferred taxes | 653 | -1,488 | 0 | 0 | 0 | 0 | 0 | -22 |
| Profit/loss of the period | -2,657 | 5,953 | 250 | 0 | 0 | 0 | 0 | -22 |