Summary of Länsimetro Oy’s meeting of the Board of Directors on 24 June 2021

The Project Manager submitted to the Board a status report on the construction and cost monitoring of the Matinkylä–Kivenlahti section through the war room’s monitoring view. Construction is progressing in line with the project plan’s risk-assessed schedule and budget. Metro traffic is expected to start up on the new section during 2023. Test runs on the rail equipment began on 21 June, and test runs on the metro cars will begin in early autumn. Testing is proceeding according to plan.

The site manager for the Finnoo station presented the station through a series of photos. Worksite visits are not possible due to the Covid-19 restrictions. (Photo tour of Finnoo in Finnish)

The situation concerning updating the co-operation agreement between Länsimetro Oy and HKL was presented to the Board of Directors. HKL reports to Länsimetro Oy on the use of the Ruoholahti–Matinkylä section rail line and stations and related service and maintenance tasks as stated in the co-operation agreement. The co-operation agreement between Länsimetro and HKL that was updated on 27 November 2019 is valid until the Matinkylä–Kivenlahti section is open to the public. The new co-operation agreement was drawn up in the course of spring 2021 and is, for the most part, completed. The aim is to have the Board resolve on and sign the agreement by the end of 2021.

The Board authorised the CFO or a representative appointed by him to launch a tender process for and conclude an agreement on financing for the Matinkylä–Kivenlahti section project up to a maximum of EUR 60 million in one or more loans. The tender for financing will be carried out jointly with the City of Espoo’s finance department. Financing for the project is proceeding according to plan.

Länsimetro Oy’s CFO presented the cost monitoring and budget for procurement decisions for the Matinkylä-Kivenlahti section. Construction is progressing in line with the project plan’s budget. (Länsimetro Oy’s financial statements have been published as part of the financial statements of the City of Espoo. Further information: Financials | Länsimetro [])

The next meeting of the Board of Directors will be held on 26 August 2021.

Further information:

Olli Isotalo, Chairman of the Board of Länsimetro Oy, tel. +358 (0)50 593 3359

Ville Saksi, CEO, Länsimetro Oy, tel. +358 (0)40 823 2086

Media contacts: Satu Linkola, Communications Director, tel. +358 (0)46 877 3392