Aktuální report č. 75 / 2013

Modernization of the Central Waterworks in Warsaw - new contract of the consortium of Budimex SA and Cadagua SA

The Management Board of Budimex SA announces that on 29 November 2013 the consortium of Budimex SA and Cadagua SA (a company belonging to the Ferrovial group) with its registered office in Bilbao, Spain (leader: Budimex SA – 50% share in the consortium, partner: Cadagua SA – 50% share in the consortium), signed an agreement for the “Modernization of technology in the Central Waterworks Unit, stage II – 2nd process line” with the Municipal Water Supply and Sewerage Company (Miejskie Przedsiębiorstwo Wodociągów i Kanalizacji) in Warsaw.

• Net contract value: PLN 64,836,569.00
• Commencement date: upon the hand-over of the building site
• Completion date: 30 November 2015
• Term of guarantee: 18 months
• Financial terms and conditions:
  • Advance payment: 20% of gross contract value
  • Payment: 30 days from the delivery of the invoice to the Ordering Party
  • Performance bond: 10% of gross contract value
• Maximum penalties: 20% of gross compensation
• The Ordering Party reserves the right to seek damages on general principles if the amount of loss sustained exceeds the amount of the stipulated penalty

The contract value exceeds 10% of the equity of Budimex SA.