Aktuální report č. 90 / 2014

Construction of the second roadway of the Międzyrzecz bypass – a new contract for Budimex SA

The Management Board of Budimex SA would like to announce that on 17 November 2014 the consortium of Budimex SA (consortium leader with a 95% share) and Ferrovial Agroman SA, with its registered office in Madrid (consortium partner with a 5% share), signed a contract with the Polish General Directorate of National Roads and Motorways for the project entitled: “Construction of the second roadway of the Międzyrzecz bypass on the route of expressway S3 km 0+000.00 – 6+370.00”.

• Contract value: PLN 83,648,989.19 net.
• Works commencement date: on the date of signing the contract.
• Works conclusion date: 22 months from the works commencement date. Winter periods (i.e. from 15 December to 15 March) are not included in the works performance period.
• Guarantee period: 10 years.
• Financial terms and conditions:
  • Advance: 5% of the gross approved contract amount.
  • Payment: 30 days after the date of the ordering party receiving a VAT invoice.
  • Performance bond: 10% of the gross approved contract amount.
• Maximum amount of penalties paid by the contractor:
  • 20% of the gross approved contract amount.
• Amount of penalties paid by the ordering party:
  • 15% of the approved contract amount for the withdrawal from the contract for reasons attributable to the ordering party.
• The ordering party reserves the right to demand supplementary compensation exceeding the amount of contractual penalties up to the actual amount of loss and lost benefits incurred.

The value of the agreement exceeds 10% of Budimex SA’s equity.