Construction costs and debt
The construction of the Storebælt and Øresund links was funded by loans raised in the Danish and international capital market.
The Danish state guarantees the loans for the Storebælt facility and the Øresund landworks. The Danish and Swedish states jointly and severally guarantee the loans for the Øresund facility between the Danish and Swedish coast.
The state guarantee ensures a high credit rating and favourable borrowing terms.
The Storebælt fixed Link
Construction costs for the Storebælt fixed Link were DKK 21.4 billion in 1988 prices (equating to approx. DKK 35.5 billion in 2010 prices). The road and railway account for around 50% each of the construction sum.
The entire construction sum, including interest will be repaid by the users, i.e. motorists and Banedanmark. In 2010, motorists paid toll fees totalling DKK 2,339 million. The annual fee from Banedanmark amounted to DKK 751 million.
At the end of 2010, Storebælt A/S’ interest-bearing debt was DKK 29.1 billion.
This means that the repayment period will be extended by 1 year to 32 years.
The Øresund landworks
The construction costs for the Øresund landworks in Denmark were DKK 5.4 billion in 1991 prices (equating to approx. DKK 8.0 billion in 2010 prices). The landworks comprise the Øresund motorway and the Øresund railway to Kastrup.
The construction sum including interest will be paid through an annual fee from Banedanmark and through dividend payment from Øresundsbro Konsortiet. In 2010, the fee from Banedanmark totalled DKK 100 million. Øresundsbro Konsortiet has not yet paid out dividend.
At the end of 2010, A/S Øresund’s interest-bearing debt amounted to DKK 10.8 billion. As a result of the ongoing recession the repayment period has been prolonged with 3 years and is now 50 years.
The Øresund fixed Link
The construction costs for the Øresund fixed Link were DKK 14.8 billion in 1990 prices (equating to approx. DKK 22.6 billion in 2010 prices).
The whole construction sum including interest will be repaid solely by users, i.e. motorists and Banedanmark, together with Svenska Banverket. In 2010, motorists paid DKK ,1045 million in bridge fees, while the annual fee for use of the railway totalled DKK 458 million.
At the end of 2010, Øresundsbro Konsortiet’s interest-bearing debt is at DKK 18.3 billion. As a result of the ongoing recession the repayment period has been prolonged with 2 years and the debt is expected to be repaid 35 years after the bridge’s opening in 2000.