Budimex.pl

Current report no 65 / 2016

Date: September 29, 2016 11:56 AM

Signing of the contract for the construction of the new combined heat and power plant in Vilnius - Lot1

bx/65/2016

The Management Board of Budimex SA informs that on 29 September 2016 a conditional contract for the construction of the new combined heat and power plant in Vilnius — Lot 1 has been signed, which will be performed by the consortium consisting of Budimex SA (partner of the consortium with 48.46% participation shares), Steinmüller Babcock Environment GmbH (leader of the consortium with 39.26% participation shares), and UAB Kauno dujotiekio statyba (partner of the consortium with 12.28% participation shares) under the order of JSC “Vilniaus kogeneracine jegaine”.

The Company informed that Ordering Party chose the consortium bid as the most advantageous one in the amended current report No 48/2016 of 12 July 2016.

The net value of the contract is: EUR 178,290,983.

The scope of works commissioned with the consortium consists of construction of the new heat and power plant consisting of: a stoker-fired boiler fit for alternative fuels (RDF, municipal waste, biomass) with the capacity of 31.5 tons/h (70 MWth) with exhaust gas treatment system and auxiliary systems and an engine room for the steam turbines with the power of 20 MWe (waste-fired part) and 70 MWe (biomass-fired part) with the power take off point and district heating take off system for the city of Vilnius.

The contract is of conditional nature. The works commencement order will not be issued, unless the Ordering Party obtains financial resources for the execution of the contract within 9 months from signing thereof.

Works commencement date: after the Ordering Party issues the Works Commencement Order (maximum 9 months from signing the contract).

Works completion date: 32 months from the date of issuing the Works Commencement Order.

Guarantee period:

24 months — base quality guarantee and warranty period,

60 months — extended quality guarantee period,

10 years — quality guarantee on hidden defects,

20 years — quality guarantee on deliberately hidden defects.

 

Financial terms:

advance payment: 10% of net contract value.

Payment terms:

– 30 days from the receipt of a VAT invoice by the Ordering Party - for the advance payment,

– 28 days from the receipt of a VAT invoice by the Ordering Party - for the Interim Payment Certificate,

– 56 days from the receipt of a VAT invoice by the Ordering Party - for the Final Payment Certificate.

Bank performance bond: 10% of net contract value.

Maximum amount of contractual penalties payable by the Contractor:

– 15% of net contract value.

The Ordering Party has the right to pursue damages exceeding the amount of contractual penalties.

The total liability of the contractor to the Ordering Party is limited to 20% of net contract value.

 

The contract is concluded under the Lithuanian law.

The value of the Agreement concluded with JSC “Vilniaus kogeneracine jegaine” exceeds the threshold of PLN 102,680 thousand.

Shareholders
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Shareholdership structure as on 18.06.2020

GPWKNFRespect IndexSEGWIG Budownictwo
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