Femern A/S Annual Report 2016 Preface The Fehmarnbelt project reached a great number of milestones in 2016. On 11 February 2016, Femern A/S published an updated financial analysis, based on the final prices from the contractors of the four major civil works contracts, which illustrates that the project economy is sound and solid. The construction budget in the financial analysis was DKK 52.6 billion, including a reserve of DKK 7.3 billion. On 4 March 2016, the political parties behind the Fehmarnbelt Link entered into a political agreement concerning the future of the project, giving Femern A/S a mandate to negotiate conditional contracts with the winning contractors. On 30 May 2016, the company signed the four major civil works contracts under the condition that the construction works were to commence upon receipt of a plan approval from the relevant German authority. Having secured the contracts the company is currently focused on the German plan approval procedure, which is the final last process to complete before the construction works can commence. The company's latest plan approval documents were processed in a public hearing in Germany in the summer of 2016. The competent authority, LBV Kiel, received approximately 12,600 objections in conjunction with the hearing, which will be responded to in the beginning of 2017. Read more on Femern A/S and the Fehmarnbelt project at www.femern.dk, where you can also subscribe to the company's newsletter. Peter Frederiksen Chair of the Board Femern A/S Claus F. Baunkjær CEO Femern A/S 3
Download PDF fil