Aktuální report č. 66 / 2014

Construction of a container terminal (GCT) in Gdynia Port - a new contract for Budimex SA

The Management Board of Budimex SA hereby announces that on 11 August 2014 the consortium consisting of Budimex SA (consortium leader with 95% of shares) and Ferrovial Agroman SA (consortium partner with 5% of shares) has entered into a contract with Gdynia Container Terminal SA encompassing the "Construction and shunting works on railway terminal and associated infrastructure" performed within the project entitled "The third construction phase on the container terminal GCT in Gdynia Port - construction of infrastructure and purchase of equipment".
This is a consecutive contract concluded with this contracting party within the last 12 months. The previous contract involving the task: "Container subgrade with mooring-fender line on the Bulgarian Quay" of the net value of PLN 20,838,986.34 was concluded on 15 May 2014.

• Value of the current contract: PLN 39,757,058.07 net
• Commencement date: 7 days from the date of concluding the contract
• Deadline: 14 months; however not longer than until 30.09.2015
• Guarantee period: 36 months
• Financial terms and conditions:
  • Advance payment: 20% of the approved gross contractual price
  • Payment: 30 days after the Contracting Authority receives an invoice
  • Performance bond: 10% of gross contract value
• Maximum penalties: 20% of the gross contract value
• Should the above penalties fail to cover the damage incurred, the Ordering Authority has the right to claim supplemental compensation on general terms resulting from the Civil Code, on condition that the claim is limited to the actual damage and is not higher than the limit for the payment of costs to complete the work, while the total cost of completing the work, supplemental compensation and contractual penalties cannot be higher than the limit mentioned above.

The accumulated value of the agreements entered into with the same party within the last 12 months exceeds 10% of the equity of Budimex SA.