Feasibility assessment of the Haapovaara border crossing point
Funded by Euregio Karelia Neighbourhood Programme 2001-2006

Objective of the project

The project was used to promote the development of the Haapovaara border crossing location. The main goal was to complete a feasibility assessment regarding changing the Haapovaara border crossing location into an international border crossing.

Main activities

• to create a mutual strategy and operational programme for Suojärvi District and Ilomantsi Municipality in order to develop the Haapovaara border crossing location. • feasibility study implementation

Achievements

According to the financial analysis completed in the project's feasibility study, regional economies in Ilomantsi Municipality and Suojärvi District would receive a MEUR 11.4 net present value (NPV) benefit over the 15-year calculation period from the internationalisation of the Haapovaara border crossing. The internal rate of return (IRR) for the investments would be 40 %. When the increased travelling is included in the calculations as well as the income associated with the increase in trade and the savings in traffic and time, it was seen that it would be financially profitable to begin the construction of the international Haapovaara border crossing location using separate funding and thus secure receipt of the future benefits. The feasibility study will be used as a tool for developing the Haapovaara border crossing location in further discussions in Finland, Russia, and within the European Commission.