Financing the Great Belt Project in Denmark

The Great Belt Project in Denmark is an infrastructure costing USD 4 billion in direct payments to contractors, consultants, landowners, etc. including administration and price escalation, but excluding the cost of financing. The project received its final approval to commence in June 1987, and it is expected to start operation in two stages: the railway link at the end of 1995, and the motorway link at the end of 1997. The Great Belt Project is financed under an umbrella of a government guaranty. The daily financing business is carried out in cooperation with numerous commercial banks and without any influence from such banks as to what financing strategy should be chosen.