Aktuální report č. 84 / 2014

S5 expressway Żnin - Gniezno section Mielno junction – Gniezno - receipt of information about the selection of Budimex SA's offer

The Management Board of Budimex SA announces that on 24 October 2014 it was informed by the General Directorate for National Roads and Motorways, Poznań Department, about the selection of the bid placed by a consortium composed of Budimex SA (consortium leader with a 95% share) and Ferrovial Agroman SA (consortium partner with 5% share) as the best bid in the public procurement procedure for the: “Construction of S5 expressway Żnin - Gniezno, section: Mielno junction - Gniezno, from km 0 + 000 to km 18 + 330.21”.

• Contract value: PLN 387,271,515.87 net
• Commencement date: 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 period: 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 liquidated damages to be paid by the contractor: 20% of the approved gross contractual amount.
• Maximum liquidated damages to be paid by the contracting authority: 15% of the approved gross contractual amount.
• The Contracting Authority reserves the right to claim supplementary compensation which adjusts the amount of liquidated damages to the amount of damage actually suffered and lost profits.

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