This paper uses three Danish-Swedish-German transport infrastructure mega-projects - the Storebælt, Øresund and Femern Belt links - as a case study to examine risk allocation between owners and contractors. It highlights the evolution of the approach to risk allocation over time and how the projects deal with uncertainty. The paper is part of a series of 19 papers and a synthesis report produced by the International Transport Forum’s Working Group on Private Investment in Transport Infrastructure.

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