A number of consultancies have helped to produce a feasibility study and the main stumbling block would appear to be the $20m+ cost. The countries are currently looking at applying for an EU grant alongside a public-private partnership model.
The finance figure is significant given the relatively small size of the Finnish and Estonian economies. Studies are ongoing and a tunnel would offer Finland a connection to the Central European rail network.
Currently, travelling by ferry between Helsinki and Tallin can take two hours by boat, while a rail tunnel would reduce the travel time to just half an hour. As well as passenger traffic, freight would also be transported