Aktuální report č. 95 / 2014

Express road S5 Żnin – Gniezno, section: node “Mielno” – Gniezno – a new contract of Budimex SA

The Management Board of Budimex SA hereby informs you that on 03 December 2014 the consortium of Budimex SA (the consortium leader with the share of 95%) and Ferrovial Agroman SA (the consortium partner with the share of 5%) signed with the General Directorate for National Roads and Motorways Branch in Poznań a contract for:
“The construction of the S5 road Żnin – Gniezno, section: node “Mielno” – Gniezno, from km 0 + 000 to km 18 + 330,21”.

• Contract value: PLN 387,281,368.26 net.
• Works commencement date: on the date of concluding the contract.
• Works completion date: 22 months from the date of the contract conclusion. The implementation time does not include winter periods, i.e. from 15 December to 15 March).
• Term of guarantee: 10 years.
• Financial terms and conditions:
  • Advance payment: 5% of the accepted gross contract amount.
  • Payment: 30 days from the receipt of the VAT invoice by the Employer.
  • Performance bond: 10% of the accepted gross contract amount.
• Maximum penalties incurred by the Contractor: 20% of the accepted gross contract amount.
• Maximum penalties incurred by the Employer: 15% of the accepted gross contract amount.
• The Ordering Party reserves the right to demand supplementary compensation, increasing the amount of contractual penalties to the actual amount of incurred loss and lost profits.

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