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Denmark

15 buyers · 36 tenders · checked 2026-10-03

Replacing all analogue signals on 1,751 km Fjernbane and 171.4 km S-bane with ERTMS by 2033, electrifying 1,150 km by 2029, DKK 86.1bn Infrastrukturplan 2035.

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1Metro systems operating

3Light rail systems operational

15Buyers tracked

36Tenders tracked

Live pipeline: DKK 30bn+ of valued 2026 procurements tracked, the largest being DSB's automated S-trains (EUR 3.70bn) and Metroselskabet's M1–M4 operating contract (DKK 17bn), with about DKK 10.5bn of M5 packages in the market
Technology areas: Signalling & train control, Track & civil, Rolling-stock hardware, Electrification, Predictive maintenance, Digital operations, AI inspection, Cybersecurity

Key figures

Banedanmark's network as publis…1,751 km Fjernbane · 171.4 km S-baneBanedanmark's network as published in Netredegørelse 2027: Fjernbane 1,751 km of lines (811.7 km double track, 927 km single track, 11.8 km with more than two tracks) and 171.4 km of double-track S-bane, plus the Sund & Bælt-owned Storebælt (25.6 km), Kastrupbanen (15.1 km) and Øresundsbroen (5.3 km); 1,435 mm gauge, 25 kV 50 Hz on the Fjernbane and 1,650 V DC on the S-bane

1 source · primary

● Banedanmark · Netredegørelse 2027, version 2 (§2.3.1 Sportyper; §2.6 Signalprogrammet og Elektrificeringsprogrammet) (published 2026-03-17 · checked 2026-09-12)

Signalling Programme: more than…DKK 24,626.7m · ERTMS by 2033Signalling Programme: more than 2,600 km of Fjernbane and S-bane, ERTMS Level 2 baseline 3 on the Fjernbane, total cost raised to DKK 24,626.7m (2025 prices) in October 2025; West Denmark complete 2027, East Denmark by 2033 at the latest against a supplier plan of 2031; S-bane CBTC complete and maintained by Siemens

5 sources · all primary

● Banedanmark · Signalprogrammet (published 2026 · checked 2026-09-12)
● Banedanmark · Signalprogrammet — Fjernbane (udrulningsplan, opdateret marts 2026) (published 2026-03 · checked 2026-09-12)
● Banedanmark · Signalprogrammet — S-bane (published 2026 · checked 2026-09-12)
● Banedanmark · Netredegørelse 2027, version 2 (§2.3.1 Sportyper; §2.6 Signalprogrammet og Elektrificeringsprogrammet) (published 2026-03-17 · checked 2026-09-12)
● By-, Land- og Transportministeriet · Status for statslige anlægs- og byggeprojekter — Anlægsstatus 1. halvår 2026 (opgørelse per 1. januar 2026) (published 2026 · checked 2026-09-12)

Electrification Programme under…1,150 km of track by 2029Electrification Programme under the 2015 Aarsleff–Siemens contract; Fredericia–Aarhus and Aarhus–Aalborg now expected in 2027 rather than 2024 and 2025, Holbæk–Kalundborg unresolved. Banedanmark's own brochure states 1,350 km of track, the programme page 1,150 km

3 sources · all primary

● Banedanmark · Elektrificeringsprogrammet (published 2026 · checked 2026-09-12)
● Banedanmark · Netredegørelse 2027, version 2 (§2.3.1 Sportyper; §2.6 Signalprogrammet og Elektrificeringsprogrammet) (published 2026-03-17 · checked 2026-09-12)
● By-, Land- og Transportministeriet · Status for statslige anlægs- og byggeprojekter — Anlægsstatus 1. halvår 2026 (opgørelse per 1. januar 2026) (published 2026 · checked 2026-09-12)

Infrastrukturplan 2035DKK 86.1bn to railway 2022–2035Infrastrukturplan 2035, agreed 28 June 2021 by eleven parties: DKK 160.6bn of transport investment in total, DKK 63.8bn road, DKK 86.1bn railway including BRT and light rail, DKK 10.7bn pools and other initiatives, with DKK 105.8bn of it new initiatives

2 sources · all primary

● Finansministeriet / aftaleparterne · Aftale mellem regeringen og ti partier om Infrastrukturplan 2035 (tabel 1: nye og igangværende investeringer) (published 2021-06-28 · checked 2026-09-12)
● Regeringen · Bred aftale om infrastruktur for mere end 160 mia. kroner (published 2021-06-28 · checked 2026-09-12)

Fehmarnbelt fixed link: an imme…DKK 55.1bn · no opening year publishedFehmarnbelt fixed link: an immersed tunnel of about 18 km with a twin-track electrified railway in separate tubes and a four-lane motorway, statutory framework DKK 55.1bn (EUR 7.4bn, 2015 prices) against a DKK 52.6bn management budget including DKK 7.3bn of reserves, about EUR 1.3bn of EU support for construction. Immersion is about two years behind plan; Femern announced a two-stage opening in May 2026 with the road first and the railway later, and publishes no opening year

4 sources · all primary

● Femern A/S · Fact sheet — the Fehmarnbelt tunnel (November 2025) (published 2025-11 · checked 2026-09-12)
● Sund & Bælt Holding A/S · Finance of the Fehmarnbelt link (published 2026 · checked 2026-09-12)
● Femern A/S · The Fehmarnbelt tunnel will open in two stages (published 2026-05-17 · checked 2026-09-12)
● Sund & Bælt Holding A/S · 2025 var et travlt år for Sund & Bælt med nye opgaver og store udfordringer (published 2026-04-14 · checked 2026-09-12)

Copenhagen Metro M1–M4 (44 stat…135 million metro passengers in 2025Copenhagen Metro M1–M4 (44 stations, 43 km of track): 71.2 million passengers on M1/M2 and 64 million on M3/M4 in 2025. Ring 3 light rail fully open 22 August 2026 (28 km, 29 stations); Aarhus Letbane 110 km with 6,052,728 passengers in 2025 (6,351,212 in 2024); Odense Letbane 14.2 km with about seven million a year

6 sources · all primary

● Metroselskabet I/S · Passagertal (published 2026 · checked 2026-09-12)
● Metroselskabet I/S · Metrolinjen M4 til Sydhavn og Valby åbner den 22. juni (published 2024-04-03 · checked 2026-09-12)
● Hovedstadens Letbane I/S · Stor tilslutning: 50.000 kørte med da hele Letbanen blev indviet (published 2026-08-23 · checked 2026-09-12)
● Aarhus Letbane I/S · letbanen.dk — forside (110 km, over 20.000 passagerer dagligt) (published 2026 · checked 2026-09-12)
● Aarhus Letbane I/S · Letbanen i tal — passagertal (published 2026 · checked 2026-09-12)
● Odense Letbane P/S · Tal og fakta (åbning 28. maj 2022, 14,2 km, 26 stationer, 3,6 mia. kr., 16 Stadler Variobahn) (published 2026 · checked 2026-09-12)

Buyers

Buyer	Type	Tenders	Contracts awarded
Banedanmark	Infrastructure manager	13	8
DSB (Danske Statsbaner)	National operator	6	6
Femern A/S	State SPV	4	5
Metroselskabet I/S	Metro corporation	6	3
A/S Øresund	State SPV	2	1
Aarhus Letbane I/S	Metro corporation	1	2
Odense Letbane P/S	Metro corporation	0	2
A/S Storebælt	State SPV	1	0
Hovedstadens Letbane I/S	Metro corporation	0	1
Lokaltog A/S	Regional rail SPV	1	0
Sund & Bælt Holding A/S	State SPV	1	0
Vejdirektoratet (Danish Road Directorate)	State DOT	1	0
By-, Land- og Transportministeriet	National rail HQ	0	0
Trafikselskabet Movia	Transit authority	0	0
Trafikstyrelsen	Regulator / standards	0	0

Tenders

Tender	Buyer	Status	Value band	Next key date
Operation and maintenance of drainage and geotechnical assets	Banedanmark	Open	$25–100m	Published September 2026
Supply of rails for 2027 sixteen lots	Banedanmark	Open	$5–25m	Published September 2026
M5 Civil Works South 7 km bored tunnels	Metroselskabet	Retender	$500m–1bn	Published June 2026
Operation and maintenance Copenhagen Metro M1–M4	Metroselskabet	Bids closed	over $1bn	Published July 2025
Byg&Tek framework for building and technical maintenance	DSB	Bids closed	$500m–1bn	Published April 2026
M5 Transportation System South trains signalling doors	Metroselskabet	Bids closed	$500m–1bn	Published June 2026
A/S Storebælt West Bridge bearing refurbishment	A/S Storebælt	Bids closed	$25–100m	Published December 2025
Re-tender for fasteners and rail pads sleepers	Banedanmark	Bids closed	$25–100m
Fifteen-year S-train spare parts and maintenance agreement	DSB	Bids closed	$25–100m	Published February 2026
Replacement ticket vending machines for all stations	DSB	Bids closed	$25–100m	Published March 2026
Track works for new railway across West Funen	Vejdirektoratet	Bids closed	$25–100m	Published November 2025
A/S Øresund Kalvebod track catenary construction	A/S Øresund	Bids closed	value not published	Published April 2026
Supply and maintenance of at least 226 S-trains	DSB	Awarded	over $1bn	Awarded February 2026
Aarhus Letbane Stadler Citylink eight option twelve	Aarhus Letbane	Awarded	$100–500m	Awarded December 2025
Signalling Programme Fjernbane East contract modification Alstom	Banedanmark	Awarded	$100–500m	Awarded July 2026
Catenary for new railway across West Funen	Banedanmark	Awarded	$25–100m	Awarded July 2026
Consultancy framework for transmission network and operational IT	Banedanmark	Awarded	$25–100m	Awarded April 2026
Vegetation and green maintenance of railway land	Banedanmark	Awarded	$25–100m	Awarded June 2026
Mechanical maintenance of DSB's own track depots	DSB	Awarded	$25–100m	Awarded December 2025
M4 Nordhavn extension transportation system M4 incumbent	Metroselskabet	Awarded	$25–100m	Awarded June 2026
Horizontal cooperation agreement Aarhus Letbane Grenaabanen maintenance	Banedanmark	Awarded	$5–25m	Published May 2026
Lokaltog charging battery trains Hårlev station	Lokaltog	Awarded	$5–25m	Awarded May 2026
Femern A/S Tunnel North immersed Fehmarnbelt	Femern	In execution	over $1bn	Awarded November 2025
Femern A/S Tunnel South immersed Fehmarnbelt	Femern	In execution	over $1bn	Awarded November 2025
Femern A/S Tunnel Portal Ramps Fehmarnbelt	Femern	In execution	$500m–1bn	Awarded November 2025
Framework track renewal subballast replacement ballast cleaning	Banedanmark	In execution	$100–500m	Awarded April 2025
New S-train workshop at Vinge Nord	DSB	In execution	$100–500m	Awarded September 2025
M4 Nordhavn extension integrated works contract early involvement	Metroselskabet	In execution	$100–500m	Awarded September 2025
A/S Øresund Kalvebod tracks structures civil works	A/S Øresund	In execution	$25–100m	Awarded October 2025
Aarhus H rebuild contract 1 track platforms	Banedanmark	In execution	$25–100m	Awarded February 2025
Hillerød station upgrade track and catenary renewal	Banedanmark	In execution	$25–100m	Awarded January 2026
Ringsted–Slagelse track renewal and preparation 200 km/h	Banedanmark	In execution	$25–100m	Awarded December 2025
Spare parts technical support engineering M1–M4 systems 2045	Metroselskabet	In execution	$25–100m	Awarded November 2025
Femern A/S Tunnel Track Catenary cancelled	Femern	Cancelled	$100–500m
Frameworks for signalling engineering services rail-borne plant	Banedanmark	Cancelled	$25–100m	Date December 2025
Sund & Bælt toll system Storebælt Femern cancelled	Sund & Bælt	Cancelled	$25–100m	Date May 2025

Cities

City	Network status	Networks
Copenhagen	operational — four driverless metro lines (M1–M4, 44 stations, 43 km of track, 135 million passengers in 2025), the S-bane (fleet replacement contracted February 2026, DSB taking over the infrastructure in 2027), the Ring 3 light rail (fully open 22 August 2026) and the Øresund and local railways; M4 extension to Ydre Nordhavn for 2030 and M5 etape 1 in procurement for 2036	Copenhagen Metro M1–M4 (Metroselskabet); M4 Ydre Nordhavn extension; M5 (in procurement); S-bane (DSB); Hovedstadens Letbane, Ring 3
Aarhus	operational — Denmark's first light rail, 110 km from Odder to Grenaa through the city, more than 20,000 passengers a day, eight Stadler Citylink vehicles on order for 2029; Aarhus H being rebuilt and electrified, with electrification of Fredericia–Aarhus and Aarhus–Aalborg now expected in 2027; etape 2 to Brabrand deferred to 2037	Aarhus Letbane L1 (Grenaa) and L2 (Odder)
Odense	operational — 14.2 km light rail with 26 stations, opened 28 May 2022, 16 Stadler Variobahn vehicles, about seven million passengers a year; stage 2 towards Seden and Vollsmose at just under DKK 1.8bn for 2032 at the earliest; the new 35 km West Funen high-speed railway runs from Odense Vest to Kauslunde for 2029	Odense Letbane (stage 1 operating, stage 2 in planning)
Aalborg	operational heavy rail — northern terminus of the Aarhus–Aalborg electrification (approved DKK 3,114.4m, opening moved from 2025 to 2027, dependent on the Limfjord rail bridge and Energinet's Svenstrup transformer station); regional services to Frederikshavn and Hirtshals run by Nordjyske Jernbaner, 89 per cent owned by Nordjyllands Trafikselskab, under a Region Nordjylland contract to December 2030

Players with a footprint here

Player	Kind	Footprint
Swietelsky	Track & electrification contractor	Project presence
Strukton	Track & electrification contractor	Headquarters
Aarsleff Rail	Track & electrification contractor	Project presence
DEME	Civil contractor	Project presence
MJE	Civil contractor	Project presence
Ramboll	Engineering consultant	Headquarters

What changed

From This Week in Rail, newest first.

2026-09-28 — Copenhagen's Metroselskabet prequalifies three bidders for the M5 transport-system contract.
2026-09-21 — Banedanmark completes the renewal of Kvissel station, with new platforms and improved access.

Withheld in the free surface

Capex in this region (3)
Market narrative

Full detail withheld: 2 fields. In the European Union edition · See a fully open example

Renewal and maintenance
Banedanmark activity
Project schedule
Dsb contract and fleet
Operator map
Methodology note

Full detail withheld: 6 fields. In the European Union edition · See a fully open example

Sources

● Aarhus Letbane I/S · Flere tog på vej til Aarhus Letbane — otte Stadler Citylink, option på tolv, i drift fra sommeren 2029 (published 2025-12-02 · checked 2026-09-12)
● Aarhus Letbane I/S · letbanen.dk — forside (110 km, over 20.000 passagerer dagligt) (published 2026 · checked 2026-09-12)
● Banedanmark · Årsrapport 2025 (tabel 2.2.1 Banedanmarks samlede aktivitet; tabel 2.2.4 hovedtal) (published 2026-05-19 · checked 2026-09-12)
● Banedanmark · Elektrificeringsprogrammet (published 2026 · checked 2026-09-12)
● Banedanmark · Netredegørelse 2027, version 2 (§2.3.1 Sportyper; §2.6 Signalprogrammet og Elektrificeringsprogrammet) (published 2026-03-17 · checked 2026-09-12)
● Banedanmark · Signalprogrammet (published 2026 · checked 2026-09-12)
● By-, Land- og Transportministeriet · Status for statslige anlægs- og byggeprojekter — Anlægsstatus 1. halvår 2026 (opgørelse per 1. januar 2026) (published 2026 · checked 2026-09-12)
● By-, Land- og Transportministeriet · DSB overtager GoCollectives togtrafik fra 1. september 2026 (published 2026-06-26 · checked 2026-09-12)
● By-, Land- og Transportministeriet · Togkontrakter — Midt- og Vestjylland samt Svendborgbanen (published 2026 · checked 2026-09-12)
● By-, Land- og Transportministeriet · Togkontrakter — regionaltogstrafik mellem Skørping og Frederikshavn (published 2026 · checked 2026-09-12)
● By-, Land- og Transportministeriet · Togkontrakter — de seks statslige og regionale togkontrakter (published 2026 · checked 2026-09-12)
● DSB · Årsrapport 2025 (materiel i drift, rejser, trafikkontraktindtægter, IC5 og EC-flåden) (published 2026-02-05 · checked 2026-09-12)
● DSB · Fremtidens S-bane — strategiske projekter (published 2026 · checked 2026-09-12)
● DSB · DSB overtager GoCollectives togtrafik 1. september 2026 (published 2026-06-26 · checked 2026-09-12)
● DSB · IC5 — strategiske projekter (published 2026 · checked 2026-09-12)
● By-, Land- og Transportministeriet (published as Transportministeriet) / DSB · Kontrakt mellem Transportministeriet og DSB om offentlig servicetrafik i perioden 15. december 2023 – 10. december 2033 (tabel 7.1 kontraktbetaling) (published 2023-12-15 · checked 2026-09-12)
● DSB · Kontrakten om fremtidens fuldautomatiske S-tog er underskrevet (published 2026-02-06 · checked 2026-09-12)
● European Central Bank · Euro foreign exchange reference rates, 11 September 2026 (USD 1.1592, DKK 7.4748 per EUR) (published 2026-09-11 · checked 2026-09-12)
● Femern A/S · Sund & Bælt annullerer to udbud (published 2026-02-18 · checked 2026-09-12)
● Femern A/S · Fact sheet — the Fehmarnbelt tunnel (November 2025) (published 2025-11 · checked 2026-09-12)
● Femern A/S · The Fehmarnbelt tunnel will open in two stages (published 2026-05-17 · checked 2026-09-12)
● Finansministeriet / aftaleparterne · Aftale mellem regeringen og ti partier om Infrastrukturplan 2035 (tabel 1: nye og igangværende investeringer) (published 2021-06-28 · checked 2026-09-12)
● Hovedstadens Letbane I/S · Stor tilslutning: 50.000 kørte med da hele Letbanen blev indviet (published 2026-08-23 · checked 2026-09-12)
● Hovedstadens Letbane I/S · Årsrapport 2025 (anlægsbudget, ejerindskud og ejerandele, driftsoperatør) (published 2026 · checked 2026-09-12)
● Lokaltog A/S · Organisation — ni strækninger, 335 km spor, 117 stationer, Movia hovedaktionær (published 2026 · checked 2026-09-12)
● Lokaltog A/S · Udbud — igangværende og kommende udbud, Ethics-portalen (published 2026 · checked 2026-09-12)
● Metro Service A/S · Ejerskab (ATM — Azienda Trasporti Milanesi) (published 2026 · checked 2026-09-12)
● Metro Service A/S · Om os — drift og vedligehold af Metroen i København og driften af Hovedstadens Letbane (published 2026 · checked 2026-09-12)
● Metroselskabet I/S · Metroselskabet aflyser og genudbyder M5's Civil Works-kontrakt (published 2026-08-12 · checked 2026-09-12)
● Metroselskabet I/S · Stor milepæl for kommende metrolinje: anlæg af M5 sendes i udbud (published 2026-06-30 · checked 2026-09-12)
● Metroselskabet I/S · KBH Metro Partner bliver ny operatør af Metroen i København (published 2026-08-28 · checked 2026-09-12)
● Metroselskabet I/S · Passagertal (published 2026 · checked 2026-09-12)
● Nordjyske Jernbaner A/S · Om Nordjyske Jernbaner (89 pct. ejet af Nordjyllands Trafikselskab; Alstom LINT og Desiro) (published 2026 · checked 2026-09-12)
● Odense Letbane P/S · Letbanens etape 2 (otte stationer besluttet 29. april 2026; anlægsoverslag knap 1,8 mia. kr.; tidligst drift 2032) (published 2026 · checked 2026-09-12)
● Sund & Bælt Holding A/S · Finance of the Fehmarnbelt link (published 2026 · checked 2026-09-12)
● Talgo · Denmark issues the authorisation for Talgo's EuroCity international trains (published 2025-09-12 · checked 2026-09-12)

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