Report on the Ørestad and Metro project (no. 2)


Report no. 3/2004

Ørestadsselskabet I/S, a partnership owned by the government and the City of Copenhagen, is responsible for developing an infrastructure in the Ørestad region, for selling land in the Ørestad region, and for constructing and operating a Metro in cooperation with the Municipality of Frederiksberg and the County of Copenhagen.

The NAOD has examined the responsibility of the Minister for Transport for Ørestadsselskabet I/S’ financial transactions as co-owner of the partnership. The NAOD also examined Ørestandsselskabet I/S’ use of bonuses in contracts regarding the completion and operation of the Metro. In addition, the NAOD examined Ørestadsselskabet I/S’ handling of contractual disagreements and the financial consequences of pending litigation and arbitration proceedings against the contractor. The NAOD also examined the status of Ørestadsselskabets I/S’ long-term finances, including the uncertainty regarding passenger revenue and income from the sale of land. Finally, the NAOD evaluated whether a need may arise for extending Ørestadsselskabet’s loan facility and the relevance of the loan facility as a control instrument for the Folketing.