In 2014, the Faroese Parliament unanimously agreed to begin work to construct subsea tunnels between the islands of Streymoy and Eysturoy and between Streymoy and Sandoy.
This is the biggest infrastructure expansion on the Faroe Islands ever. A publicly-held limited company is in charge of the project, whose purpose is to construct the tunnel and roads, in addition to maintaining operations and to maintain operations of the tunnels, in addition to any other business related to this activity after the completion of the tunnels. From 2014 to 2024, a total of DKK 400m will be appropriated on the national budget for the tunnels, and the company has been authorised to take up loans for the funding of the project.
The company will start with the construction of the Eysturoy tunnel. Preparations for the Sandoy tunnel continues, and drilling for the Sandoy tunnel will commence when drilling for the Eysturoy tunnel has completed. According to schedule, work on the Sandoy tunnel will commence no later than in 2018.
The purposes of the Eysturoy and Sandoy tunnels are to increase mobility, both for the average person on the Faroe Islands, companies and public administration. The tunnels will shorten the daily routes for several thousand people by up to an hour and a half and thereby strengthen private durability, commercial competition and national economy as a whole.
Half of all inhabitants of the Faroe Islands will live in an area where driving distance is insignificant and services will become available where previously the population foundation was too low.
The tunnels will be repaid through toll fees. Experiences from the Vágar tunnel and the Norðoy tunnel show that traffic in the tunnels is greater than originally expected and the growing number of cars ensures stable funding.
As a result of the Vágar tunnel and the Norðoya tunnel and now also the Eysturoy and Sandoy tunnels, some 90 per cent of the inhabitants of the Faroe Islands will connected through one network of roads. This is a tremendous step forwards for Faroese society as a whole – for businesses, culture and for the people.