Aktuální report č. 81 / 2014

Continuation of construction of the A1 motorway: Stryków-Tuszyn (task 1) – a new contract for Budimex SA

The Management Board of Budimex SA announces that on 30 September 2014 the consortium composed of Budimex SA (consortium partner, 1% share) and Strabag Sp. z o.o. (consortium leader, 99% share) signed a contract with the General Directorate for National Roads and Motorways for the "Continuation of the design and construction of the A1 motorway on the section from Stryków to Tuszyn junction, from km 295+850 to km 335+937.65 – Task I, section from km 295+850 (from Stryków I junction, without the junction) to km 310+000".

At the same time, with reference to current report no. 73/2014 dated 1 September 2014, the Management Board of Budimex SA announces that the consortium partners have changed their shares in the consortium to those specified above.

• Contract value: PLN 276,116,403.00 net.
• Commencement date: signing date of the contract.
• Completion date: 22 months from the commencement date. The term of contract performance includes winter periods (i.e. between 15 December and 15 March).
• Guarantee: 10 years.
• Financial terms and conditions:        
  • Advance payment: 5% - 10% of the approved gross contractual amount.
  • Payment: 30 days from the day when the Contracting Authority receives a VAT invoice.
  • Performance bond: 10% of the approved gross contractual amount.
• Maximum penalty amount: 20% of the approved gross contractual amount.
• The Contracting Authority reserves the right to claim supplementary compensation which adjusts the amount of contractual penalties to the amount of damage actually suffered and lost profits.

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