Aktuální report č. 83 / 2014

S7 Expressway Jędrzejów - Voivodeship border - a new contract of Budimex SA

The Management Board of Budimex SA announces that on 16 October 2014 the consortium composed of Budimex SA (consortium leader, with a 95% share) and Ferrovial Agroman SA (consortium partner, with a 5% share), and the General Directorate for National Roads and Motorways signed a contract for the "Construction of the S7 expressway section from Jędrzejów to the border of Świętokrzyskie and Małopolskie Voivodeships".

• Contract value: PLN 283,409,362.03 net.
• Commencement date: date of concluding the contract. The construction site will be handed over within 30 days from the date of concluding the contract.
• Deadline: 22 months from the date of concluding the contract. Winter periods (i.e. between 15 December and 15 March) are not included in the completion deadline.
• Guarantee: 10 years.
• Financial terms and conditions:
  • Advance payment: 5% 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.