A/S Femern Landanlæg Annual Report 3 Company objective A/S Femern Landanlæg’s main objective is to organise and undertake the preparations, investigations and planning and other necessary actions relating to the expansion and upgrading of the associated landworks for the fixed link across Fehmarnbelt. In addition, the company’s objective is to own all shares in Femern A/S. Highlights of the year A/S Femern Landanlæg is a 100 per cent owned subsidiary of Sund & Bælt Holding A/S and is the parent company of Femern A/S. The company was established in order to administer the ownership and financing of the Danish landworks in connection with the fixed link across the Fehmarnbelt. Planning work for the rail facility is carried out by Banedanmark while planning work for the road facility is undertaken by the Danish Road Directorate. Banedanmark receives EU support with regard to the railway component of the project. The coast-to-coast link is managed by Femern A/S. Sund & Bælt Holding A/S is responsible for coordinating the planning and construction activities of the various sub-projects that constitute the overall Fehmarnbelt project. Among other things, this work consists of coordinating the planning and construction works for the coast-coast link and the Danish road and rail facilities. This applies to interfaces between the coast-coast link and the Danish landworks relating to the railway engineering solutions and road engineering solutions, progress in project planning, resources and a common timetable. Furthermore, the company handles budget control and quarterly reporting to the Ministry of Transport and Building. The initial planning work on the rail facilities was completed by the end of 2012. Planning expenditure amounted to DKK 160.7 million (DKK 151.6 million in 2008 prices). With the legal document 149 of 15 June 2011 and the legal document of 13 March 2013, the Finance Committee granted authority for the detailed planning, the tender process and advance acquisitions to be initiated before the Construction Act is in place. These activities commenced in 2012 and are expected to be completed in 2016. On 28 April 2015, a majority in the Danish parliament adopted the Act on the Construction and Operation of a Fixed Link across the Fehmarnbelt with Associated Landworks in Denmark. The Act authorised A/S Femern Landanlæg to build and operate the Danish landworks associated with a fixed link across the Fehmarnbelt. In issuing the executive order on the delegation of certain tasks and powers for the construction and operation of a fixed link across the Fehmarnbelt with associated landworks in Denmark on 17 September 2015, the role of client was given to Banedanmark, while A/S Femern Landanlæg remains responsible for the ownership and financing of the landworks. The notes to the Construction Act indicate that a reassessment of the overall economics of the project, including an updated risk assessment, must be submitted to the political parties behind the Fehmarnbelt project before construction work can commence. The total cost for the upgrading of the Danish landworks is budgeted at DKK 9.5 billion (2015 prices).
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