Femern A/S Annual Report 2015 Preface The long process of determining the legal framework in Denmark for the Fehmarnbelt project was finalised in 2015. The Danish Parliament debated the Act on the construction and operation of a fixed link across the Fehmarnbelt with associated landworks in Denmark on 25 February 2015. The Construction Act was passed on 28 April 2015 and came into effect on 6 May 2015. The Construction Act grants Femern A/S the authority to construct and operate the fixed link across the Fehmarnbelt and to take the actions necessary with regard to completion of the coast-to-coast project, including borrowing to finance the construction work and land purchases. The Construction Act also grants the final Danish environmental approval for the project. According to the Construction Act, a number of issues remained to be cleared up concerning the project's budget and German plan approval process before the major tunnel contracts could be signed. The process of resolving such issues occupied Femern A/S considerably in 2015, and included extensive discussions with the bidding contractor consortia, intensive collaboration with the German authorities and comprehensive quality assurance of the traffic forecasts for the project, risk distribution and allocated reserves. After thorough preparatory work, the company was able to present an updated financial analysis on 11 February 2016 that demonstrated in detail that the budget for the project is sound and robust. Read more on Femern A/S and the Fehmarnbelt project at www.femern.dk, where you can also subscribe to the company's newsletter. Henning Kruse Petersen Chairman Femern A/S Claus F. Baunkjær CEO Femern A/S 3
Download PDF fil