Aktuální report č. 85 / 2014

Construction of the S19 expressway Lubartów-Kraśnik - a new contract for Budimex SA

The Management Board of Budimex SA announces that on 29 October 2014 it signed a contract with the General Directorate for National Roads and Motorways, Lublin Branch, for the construction of the S19 expressway, Lubartów-Kraśnik, for the section from Dąbrowica junction (without the junction) to Konopnica junction (with the junction), integration with existing national road no. 19 and rerouting a section of Voivodeship road no. 747 on the section from Konopnica junction to national road no. 19.

• Contract value: PLN 344,618,043.40 net.
• Commencement date: signing date of the contract. The construction site will be handed over within 30 days of the date of concluding the contract.
• Completion deadline: 19 months from the date of concluding the contract (winter periods, i.e. between 15 December and 15 March, shall not be included in the completion deadline).
• Guarantee periods: 10 years.
• Financial terms and conditions:
  • Advance payment: 5% to 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 penalties payable by the Contractor:
  • 20% of the approved gross contractual amount.
• Penalties payable by the Contracting Authority:
  • 15% of the approved gross contractual amount for withdrawal from the contract for reasons attributable to the Contracting Authority.
• The Contracting Authority reserves the right to claim supplementary damages, increasing the amount of liquidated damages to the amount of the actual damage which has been or may be suffered as a result of the Contractor's ill-performance of the contract.

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