Current report no 9 / 2017

Design works and construction of a ring road in Warsaw, the Warszawa Gołąbki/Warszawa Zachodnia – Warszawa Gdańska – new contract signed by consortium of Budimex SA, ZUE SA, Strabag Group companies

Design works and construction of a ring road in Warsaw, the Warszawa Gołąbki/Warszawa Zachodnia – Warszawa Gdańska – new contract signed by consortium of  Budimex SA, ZUE SA, Strabag Group companies

The Management Board of Budimex SA  announces that on 17 February 2017 the consortium of Budimex SA (consortium leader, 34%), ZUE SA (consortium partner 33%) and Strabag Group companies (consortium partner 33%, including: Strabag Sp. z o.o., Strabag Rail A.S., Strabag Rail GmbH, Strabag Áltálanos Épitó Kft) signed a contract with PKP Polskie Linie Kolejowe SA for the design and construction works for the “Works on the ring road in Warsaw (Warszawa Gołąbki/Warszawa Zachodnia – Warszawa Gdańska section)” project.

Bid value: net PLN 159,700,000.00.

Works commencement date: the day after the day on which the Contract is signed by last of the Parties.

Works completion date: 26 months from the works commencement date.

Warranty period: 72 months starting from the day on which the Work Acceptance Certificate is issued.

Financial terms and conditions:

Advance payment: up to 10% of the Accepted net Contract Amount one time, if the Contractor asks for advance payment.

Payment: 30 days from the date of receipt by the Ordering Party of a valid invoice in accordance with the annexed Interim Payment Certificate and acceptance certficates.

Bank performance bond: 10% of the accepted gross contract amount.

Maximum penalties: 30% of the accepted gross contract amount.

Contractual penalties do not prejudice the Employer’s right to seek damages exceeding liquidated damages provided for in the contract, in accordance with general principles.

The value of the agreement exceeds the threshold of PLN 102,680 thousand.