On January 7, 2011, the subsidiary Copenhagen Metro Team I/S, a Danish company in which Salini Impregilo S.p.A., Tecnimont Civil Construction, and S.e.l.i. are shareholders, signed a contract to build the new Copenhagen Metro, one of the most modern transit infrastructures in the world.
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 value of the contract of € 1,497 million was updated to € 1,657 million as a result of additional acts, the last of which, in order of time, on October 22, 2014 assigned supplementary works for approximately € 240 million. To this amount one must add approximately € 55 million for price revision, bringing the total value of the contract to approximately € 1.872 million.
The main ongoing activities concern the excavations of the underground sections and renovation works on all 22 sites, as provided for by the contract (17 stations and 5 wells).
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 work completion as at June 30, 2015, was 61.1%.