Everything at the Fehmarn construction is on a large scale. Very large. For instance, in the first nine months of the year, Femern A/S had project expenses of an average of 2 million Euros per day – or 565 million in total.
When operating with numbers of that size, percentage changes also make a very big difference. This can be seen in the developer’s financing costs, which in the same period have more than doubled from nearly 54 million to just over 134 million Euros due to interest rate increases and inflation.
The Fehmarn Tunnel will end up being expensive, but the truth is that nobody knows exactly how expensive, because the price of money is not fixed.
Welcome to December and thanks for reading.
Bernt Hertz Jensen
In the first nine months of 2022, Femern A/S has had project expenses totaling 565 million euros. This appears from the quarterly report from Sund & Bælt. Inflation and interest rate increases have more than doubled the state holding company’s financing costs compared to the same period last year.
The Fehmarn project attracts apprentices from all over Denmark. The majority of the apprentices on the largest infrastructure project in Danish history are so far from the local area.
A new YouTube documentary about the Fehmarn connection, which has gained millions of views in a few days, could potentially help recruit labour.
At the developer Femern A/S, they are pleasantly surprised by how many citizens and tourists show interest in the Femern project.
- Fehmarn construction costs 2 million euros per day
- Elecnor’s winning bid was slightly cheaper but no better
- Casting a floating gate of 20.000 cubic meters
- 15 graduate students had to stay outside the fence
- Students investigate: How does the construction affect Rødbyhavn?
- Fehmarn construction provides wind in the sails for staff leasing
- Fehmarn workers must be careful in the cold
- FLC orders steel from Funen for millions