A recent report “Nordic Capitals Railway – A More United Nordic Region, a Stronger Europe” highlights a vision for a high-speed rail connection linking Helsinki, Stockholm, and Oslo. The project is seen as a strategic growth engine for all of Northern Europe and a key to deeper European integration.
“The connection between the Nordic capitals builds a common economic area that will generate growth for generations to come. The Nordic Capitals Railway is an investment in the future and in security,” states Regional Director of Varsinais-Suomi Jyri Arponen.
Strategic Growth and Innovation Potential for Finland
The Nordic Capitals Railway project would connect the metropolitan areas of Helsinki, Stockholm, and Oslo, home to over 7 million people with a combined GDP exceeding EUR 450 billion. Improved accessibility would create broader and more functional labor markets, accelerating productivity and economic growth. Finnish companies, universities, and professionals in particular would gain new opportunities for collaboration, innovation, and international growth. “The benefits of large, cross-border rail projects emerge over decades and centuries. More dynamic labor markets and increased interaction accelerate the creation of new innovations and economic productivity. In case studies – such as the Øresund Bridge – as much as 70 percent of the benefits arose from labor market impacts,” says the report’s author, Senior Advisor Sauli Hievanen from Miltton.
“A fixed connection to Sweden will integrate the business community and companies of Varsinais-Suomi more closely into European business life and the network of Nordic capitals. For growth and investment, this project strengthening western connections will elevate companies as credible trade and cooperation partners in a new way. The positive impacts would be extensive and significant,” states Chairman of the Board of Turku Chamber of Commerce Panu Routila.
Furthermore, Russia’s war of aggression against Ukraine has changed Finland’s geopolitical position. Nearly all of Finland’s imports and exports now pass through the Baltic Sea, making the country logistically vulnerable. With NATO membership, Finland’s role in European security has grown, and westward connections are more important than ever for both security of supply and military mobility.
The Nordic Capitals Railway would support the EU’s goal of building a high-speed rail network connecting capital cities. At the same time, it would create an alternative and secure transport route, strengthening the security of supply for Finland and all of Northern Europe. Dual-use infrastructure would serve both civilian and military needs, which is particularly important in the current security situation.
“A fixed transport connection from Helsinki via Turku and Åland to Stockholm will fundamentally change Finland’s geopolitical position and represents a tremendous opportunity for the Finnish economy and internationalization,” says Mayor of Turku Piia Elo.
The significance of the project has also been emphasized in the Confederation of Finnish Industries’ report “Finland’s New Transport Connections to the World – Business Expectations for Improving International Accessibility,” in which Finnish business leaders express their support for developing new international transport solutions and consider them a vital prerequisite. Parliament has also this week allocated EUR 250,000 in the state budget for a study on the Helsinki-Stockholm fixed connection.
“The Nordic Capitals Railway is not merely a transport project, but an investment in a more united Nordic region and a stronger Europe. We are at a historic moment when major infrastructure investments can be realized and strengthen both our security and competitiveness,” emphasizes CEO of the Confederation of Finnish Industries EK Jyri Häkämies.
Report Recommendations and Next Steps
The report’s key recommendation is that Finland, Sweden, Norway, and the EU Commission should initiate a joint study on the project’s strategic benefits, feasibility, and financing opportunities. The realization of major infrastructure projects takes decades, so preparation must begin 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 was commissioned by the City of Turku, Varsinais-Suomi Regional Council, Confederation of Construction Industries RT, Ramboll, Turku Chamber of Commerce, and Miltton Group.
Further Information
Turku Chamber of Commerce: CEO Kaisa Leiwo, tel. 040 556 6697, kaisa.leiwo@kauppakamari.fi
Ramboll: Jukka-Pekka Pitkänen, Ramboll, Transport, tel. 040 738 4190, jukka-pekka.pitkanen@ramboll.fi
City of Turku: City Secretary Pasi Ahola, tel. 040 120 7326, pasi.ahola@turku.fi
Varsinais-Suomi Regional Council: Regional Director Jyri Arponen, tel. 040 766 2906, jyri.arponen@varsinais-suomi.fi
Miltton Group: Communications Director Lotta Backlund, tel. 0405313076, lotta.backlund@miltton.com
Access the report here (in Finnish, Swedish, and English):
https://miltton.com/wp-content/uploads/2025/12/Nordic_Capitals_Railway_FI_08122025.pdf
https://miltton.com/wp-content/uploads/2025/12/Nordic_Capitals_Railway_EN_08122025.pdf
https://miltton.com/wp-content/uploads/2025/12/Nordic_Capitals_Railway_SE_08122025.pdf
