Budimex.pl

Aktuální report č. 34 / 2010

Datum: 22. dubna 2010

New Contract of Budimex S.A – Arboretum housing complex in Łódź

The Management Board of Budimex S.A. informs that a contract on construction of the Arboretum housing complex in Łódź has been concluded with a special purpose company Kraków Development II Sp. z o.o. owned by Hines Polska Sp. z o.o. with its registered office in Warsaw on 21 April 2010.

  • Contract value: PLN 55,390,000 net
  • Commencement date: on the date of concluding the contract
  • Deadline: 22 months from the date of concluding the contract
  • Guarantee period: 36 months form obtaining occupancy permit date
  • Financial conditions:
    • Payment: 30 days after the Contracting Authority has received a correctly issued VAT invoice
    • Bank guarantee of successful execution: 5% of the net contract value
    • Maximum penalties paid by the Contractor: 8% of the net contract value
  • The Investor reserves the right to supplementary compensation in excess of contractual penalties up to the amount of damage actually suffered.
  • This is a consecutive contract concluded with Hines Polska Sp. z o.o. through special purpose companies of this investor within the last 12 months. Its total value is PLN 103,066,086.1 net.

The total value of the contracts exceeds 10% of the equity of Budimex S.A.

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