Aktuální report č. 77 / 2014

Continuation of construction of the A1 motorway: Stryków – Tuszyn (task 3) – a new contract for Budimex SA

The Management Board of Budimex SA announces that on 30 September 2014 the consortium of Budimex SA (consortium leader, 99% share) and Strabag Sp. z o.o. with its registered office in Pruszków (consortium partner, 1% share) signed a contract with the General Directorate for National Roads and Motorways for "Continuation of the project and construction of the A1 motorway on the section from Stryków to Tuszyn junction, from km 295+850 to km 335+937.65 – Task III section from km 320+010 to km 335+937.65 (without the section from km 322+150 to km 324+950)".

At the same time, with reference to current report no. 72/2014 dated 29 August 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 265,887,500.00 net
• Commencement date: the construction site will be handed over within 7 days of the date of signing the contract.
• Deadline: 22 months from the date of concluding the contract.
• Guarantee periods: 10 years.
• Financial terms and conditions:
  • Advance payment: 5% - 10% of the approved gross contractual amount.
  • Payment: 30 days after 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 S.A.