The idea for the Eysturoyartunnil emerged during the construction of and , opened in 2002 and 2006, which heralded a new look on domestic transport and regional development. In 2006, the private company was founded to build this tunnel. Due to the
2008 financial crisis, it took the stakeholders several years to materialize the plans and get political support. The tunnel was included in the 2012 national mobility plan, which abandoned the name and thereafter exclusively named it . In June 2013, another private company, , was established in order to pursue a deal between the Faroese national government, the Faroese insurance company and the Danish-owned
Copenhagen Infrastructure Partners (CIP). CIP made secret arrangements with the Faroese minister for transport,
Kári P. Højgaard, who had to resign in early September as this became public. This led to a small political crisis. In 2015, after the outcome of an official inquiry, the cabinet of
Kaj Leo Johannesen had to call for early elections. Both and were liquidated in 2015, after about two years of inactivity. Meanwhile, in the aftermath of the political crisis of 2013, a special commission drafted a proposal for a public rather than a private solution. This proposal was supported by all parties and in 2014 led to the establishment of a public company, (in short 'EStunlar' or EST). This company, owned entirely by the Ministry of Transport, builds, owns and manages both the and the .
NCC was contracted to carry out the construction works for both tunnels. The financial coupling (
cross subsidization) between the two tunnels is necessary since is not expected to generate sufficient ridership to recover its own investment via its own tolls alone, while
is expected to have surplus capacity. As a result, the tolls for will not decrease as traffic numbers increase (
price inelasticity). Only when the construction investments for both tunnels have been sufficiently been earned back could tolls be reduced. This differs from and where tolls dropped gradually with time. Another difference is that does not replace a ferry route, so tolls cannot be compared to ferry ticket prices. == Construction ==