The report “Nordic Capitals Railway – A more united Nordic region, a stronger Europe” presents a vision for a high-speed rail link connecting Helsinki, Stockholm and Oslo. The project could be a strategic growth driver for Northern Europe and a key to deeper European integration.
The Nordic Capitals Railway project would connect the metropolitan areas of Helsinki, Stockholm and Oslo, which are home to a total of over 7 million people and have a combined GDP of over 450 billion euros.
According to a newly published report, the project would have significant strategic growth and innovation potential for Finland.
Better accessibility would create a broader and more functional labor market, which would accelerate productivity and economic growth. It would open up new opportunities for collaboration, innovation, and international growth for Finnish companies, universities, and experts.
“It is noteworthy that the further studies presented in the report have also been seen as important in the Finnish Parliament. In the report of the Finance Committee on the 2026 budget, planning funding of 250,000 euros was proposed for the study of the Helsinki-Stockholm fixed link,” said the CEO of the Finnish Construction Industry Association RT. Aleksi Randell says.
The benefits of large, cross-border rail projects accrue over decades.
"More dynamic labor markets and growing interaction accelerate the emergence of new innovations and economic productivity. In example cases – such as the Øresund Bridge – up to 70 percent of the benefits arose precisely from labor market effects," says the report's author, Senior Advisor Sauli Hievanen From Milton.
The new situation requires better connections
Russia's war of aggression in Ukraine has changed Finland's geopolitical position. Now almost all of Finland's imports and exports pass through the Baltic Sea, making the country logistically vulnerable. NATO membership increased Finland's importance in European security. Westward connections became even more important for both security of supply and military mobility.
The EU aims to build a high-speed rail network connecting capitals. The Nordic Capitals Railway project would support this. At the same time, it would create an alternative and safe transport route, which would strengthen the security of supply in Finland and the whole of Northern Europe. The dual-use infrastructure would serve both civilian and military needs, which is particularly important in the current security situation.
The importance of the project has also been emphasized in the report of the Confederation of Finnish Industries "Finland's new transport connections to the world – Companies' expectations for improving international accessibility".
Report recommendations and next steps
The key recommendation of the Nordic Capitals Railway report is that Finland, Sweden, Norway and the EU Commission launch a joint study on a high-speed rail project connecting Helsinki, Stockholm and Oslo.
The study would review the project's strategic benefits, feasibility, and financing opportunities.
Large infrastructure projects take decades to complete, so preparations need to start now. This is not just a transport project, but an investment in a more united Nordic region and a stronger Europe.
“Now it is Northern Europe's turn to become the engine of European growth,” the report's authors encourage.
The report was commissioned by the City of Turku, the Association of Southwest Finland, the Construction Industry Federation of Finland, Ramboll, the Turku Chamber of Commerce and Miltton Group.