Refinancing Applications Submitted for the Brenner Base Tunnel
Following a comprehensive analysis, BBT SE estimates the total project costs for the Brenner Base Tunnel at around 10.5 billion euros. After the cost forecast was approved by the supervisory board, the next step for the project company BBT SE was to apply for the necessary funding from the respective national funding agencies.
New Estimate of the Total Cost: 10.5 Billion Euros
The estimated total cost of the project is as follows:
The construction costs are forecast at 8.54 billion euros. This sum already includes the technical railway equipment (price basis of 1 January 2023).
The forecast costs for risks amount to 1.092 billion euros.
903 million euros are estimated for escalation, i.e. for the probable inflation of the future costs
The adjustment of the original total cost estimate of 9.6 billion euros according to the Austrian calculation method and 8.8 billion euros according to the Italian calculation method is mainly due to the development of inflation (e.g. price increases in the energy sector and for building materials).
The present total cost estimate was calculated on the basis of a joint (Austrian-Italian) inflation trend specifically for the BBT project; therefore, there is now only one joint cost estimate.
Project Funding
After the approval of the cost forecast, the next step for the project company BBT SE was to apply for the necessary funding from the respective national funding agencies: In Italy, the first steps were taken to obtain a new CIPESS (Comitato Interministeriale per la Programmazione Economica e lo Sviluppo Sostenibile) decision. In Austria, the new data has already been sent to the ÖBB, which will take it into account when drawing up the new framework plan.
EU Funding Continues
The funding agencies of the European Commission have again promised their strategic and financial support until the completion of the infrastructure project.
To cover the costs already incurred, Italy and Austria will receive co-financing from the European Union of 50% for the planning and exploration work and 40% for the construction measures. So far, the EU has pledged co-financing totalling around 1.6 billion euros.
Under the new CEF 2021–2027 programme, BBT SE is participating in a tender for European co-financing to obtain co-financing for costs from 1 July 2023. A result is expected in summer 2023.
