On the 07/09/2021, after the approval of the updated construction programme, approval was also obtained for the total costs of the BBT project, which had been updated to take the following issues into account; effects of the COVID-19 pandemic; construction programme update (new lots and new date of completion and start of operations); total monetary adjustment for inflation (actual inflation, for example regarding price increases for construction materials) and estimated monetary adjustment (estimated future inflation for costs yet to be borne).
- The base costs for the realization of the work
The base costs include the costs of construction both below and above ground, railway outfitting costs and administrative costs. The updated base costs for the realization of the work based on 2021 prices amount to EUR7.7 billion.
- Costs over the Life of the Project
In order to obtain the costs over the life of the project, the cost components linked to unknowns (risks) and estimated monetary adjustment must be added, in compliance with the differing laws and guidelines in Italy and Austria.
In 2021 total costs over the life of the project calculated according to the Italian system are EUR 8.795 billion (in 2017 they were 8.384 billion). In 2021 total costs over the life of the project calculated according to the Austrian system are EUR9.567 billion (in 2017 they were 9.301 billion).
The differences in the calculation methods are an example of the complex challenges to be faced in this cross-border project.
EU financing is ongoing
The agencies of the European Union which provide funding, those involved from the start in the decision-making and implementation processes of the project have confirmed, over the past few days, the EU's absolute strategic and financial support for the project up to its completion. In order to cover the financial commitments that have already been undertaken, Italy and Austria currently receive co-financing from the European Union for 50 % of the planning and prospection activities and for 40% of the construction activities. On 28/07/2021, based on the new construction programme and the update of the total costs for the realization of the project, the European Climate, Infrastructure and Environment Executive Agency - CINEA - signed the extension to 2023 of the eligibility period for the funds that had already been assigned to the project. BBT SE will also take part in the upcoming Calls to obtain European Co-Financing for the periods after 2023.
Status of the Works
The Brenner Base Tunnel is a tunnel system made up of a total of about 230 km of tunnels. So far about 144 km of tunnels have been excavated: 51 km railway tunnels, 53 km exploratory tunnel and 40 km other tunnels. For further information please click here, at/16 and it/103 for more detailed information in the tunnelbuilder archive and also visit https://www.bbt-se.com/en. 38/21.
