Landsverk oversaw 500 projects costing eight billion kroner

Landsverk was responsible for more than 500 construction and infrastructure projects costing over eight billion kroner since 2001, when it took over the state’s building administration, KVF reports. The figures were given by Minister Jacob Vestergaard in response to a parliamentary question from Sirið Stenberg.

From 2015 to 2025, Landsverk was responsible for 55 projects costing more than five million kroner each. Forty of those projects were completed during that period.

The Fámjin tunnel cost more than 10 percent above its estimate. The other 39 projects had cost deviations of less than five percent, while 20 were completed at or below their expected cost, Vestergaard said.

The state’s construction and building administration was centralised in the late 1990s. Before that, each ministry managed its own construction projects. The reason for centralisation was that it was considered more efficient than having separate construction advisers in every ministry.