Turku City Council confirmed the new financing structure for Ferry Terminal Turku

Turku City Council amended its decision made two years ago concerning Ferry Terminal Turku, or the new terminal of the Turku passenger harbour including quays, outdoor field areas, and traffic connections.

The interest rates and general construction costs have risen considerably after the previous decision, and in addition, significant changes have taken place in ship traffic.

The goal is to stick to the cost estimate of 172 million euros e.g. so that the terminal building will be smaller and the pier will not be built at all.

The City’s own investment programme will provide 77.2 million euros which will be added to the land lease agreement between Port of Turku Ltd and the City of Turku with a depreciation period of 30 years.

In addition, the City will invest 60 million euros in the port enterprise’s reserve for unrestricted equity. 34.8 million euros will be covered by Port of Turku Ltd’s own cash assets and income financing.

The terminal project is part of the development of maritime Turku. At a later date, the terminal will release new areas to be used by the Linnanniemi district and park. The terminal is due for completion at the beginning of 2027.