The "Copenhagen Cityringen Project" consists of the design and construction of the new metro loop located in the city center, including 17 stations and two tunnels for about 17 km, with an expected traffic of 240,000 passengers per day.
The original contract value of €1,497 million, was updated to €1,657 million following other addenda, the latest of which, on October 22, 2014, assigned additional works for a total amount of approx. €240 million. About €55 million in price revisions must be added to this amount, bringing the total contract value to approx. €1,872 million.
The main activities in progress pertain to the excavation of underground sections and construction work on all the 22 contractually agreed sites (17 stations and 5 shafts).
Lastly, in 2013, 39.995% of Tecnimont Civil Construction’s share in Copenhagen Metro Team I/S was bought out, allowing the Group to hold nearly 100% of the partnership of companies involved in the work.
The percentage of completion as of December 31, 2014 was 52.1%.