Aktuální report č. 11 / 2015

Construction of express road S3 at Nowa Sól – Legnica section, task V — new contract by Budimex SA

The Management Board of Budimex SA hereby informs that on 27 February 2015 the consortium of Budimex (consortium leader with 95% share) and Ferrovial Agroman SA, with its registered office in Madrid (consortium partner with 5% share) concluded a contract for the “Design and construction of express road S3 between Nowa Sól and Legnica (A4), task V from the Lubin Południe node (excl. the node) to the Legnica II node (A4) with the length of approx. 22.6 km, i.e. section from km 58+974 to approx. km 79+172.03 (i.e. from km 79+164 – agreed at the stage of the environmental decision and division of the documentation to sections) and the Legnica II node from km 0+000 to km 2+420.”

• Contract value: PLN 638,664,075.00 net.
• Works commencement date: the date of signing the contract.
• Works completion date: 30 months from the conclusion of the contract. The implementation time does not include winter periods (i.e. from 15 December to 15 March). The design time includes winter periods (i.e. from 15 December to 15 March).
• Terms of guarantee: 10 years.
• Financial terms and conditions:
  • Advance payment: from 1% to 5% of the accepted gross contract amount.
  • Payment: 30 days of receipt by the Ordering Party of the relevant VAT invoice.
  • Performance bond: 10% of the accepted gross contract amount.
• Maximum penalties payable by the Contractor:
  • 20% of the accepted gross contract amount.
• Maximum penalties payable by the Ordering Party:
  • 15% of the accepted gross contract amount for withdrawal from the contract for reasons attributable to the Ordering Party.
• 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.