Aktuální report č. 38 / 2015

Construction and expansion of roads in Poznań — a new contract of Budimex SA

The management board of Budimex SA informs that on 30 June 2015 a contract on construction and expansion of the following roads for the purposes of the investment in Mixed Municipal Waste Residues Fraction Incineration System (ITPOK) was signed with Poznańskie Inwestycje Miejskie Sp. z o.o., acting for and on behalf of the City of Poznań and Aquanet S.A.:

1) Gdyńska Street, on the section between Bałtycka Street and the limits of the city of Poznań,

2) Bałtycka Street, on the section of the Lech bridge to the intersection with Syrenia Street.

• Contract value: PLN 68,690,157.91 net.
• Works commencement date: upon the hand-over of construction site
• Completion date of the subject-matter of the contract: 30 November 2016
• Guarantee period: 48 months.
• Financial terms and conditions:
  • Payment dates: 30 days of receipt by the ordering party of the relevant VAT invoice.
  • Performance bond: 10% of gross remuneration.
• Penalties payable by the contractor:
  • 20% of gross remuneration if the ordering party or the contractor withdraws from implementation of the subject matter of the contract for reasons attributable to the contractor;
  • 0.5% of gross remuneration for the contractor’s failure to meet the deadline for execution of construction works associated with development of T-2A and T-2B engineering structures for each commenced week of delay;
  • 0.2% of gross remuneration for the contractor’s failure to meet the deadline for completion of construction works for each day of delay.
• The ordering party reserves the right to pursue compensation exceeding the amount of contractual penalties on general terms should the ordering party suffer damage as a result of failure to execute or improper execution of the subject matter of the contract.

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