Current report no 51 / 2010

New contract for Budimex S.A. – Stryków junction

The Management Board of Budimex S.A. reports that on 28 May 2010 they signed a contract with the General Directorate for National Roads and Motorways, Łódź Division for the “construction of the A-1 motorway section from kujawsko-pomorskie/łódzkie voivodship border to Stryków junction Task II – Section 4 junction "Stryków I" from km 291+000 to km 259+850".

• Net contract value: PLN 252,101,536.72 net
• Commencement date: no later than 30 days from the date of concluding the contract
• Deadline: 30 November 2011
• Warranty: 60 months for the total Procurement.
• Financial conditions:
  • payment – 49 days after the Contracting Authority has received a VAT invoice,
  • security of successful execution - 5% of the contract value
• Contractual penalties paid by the Contractor:
  • A. For exceeding the deadline for the Completion of Works – 0.02% of the Contractual Amount per each day of delay
  • B. For withdrawal from the Contract for reasons attributable to the Contractor – 10% of the Contractual Amount
  • C. For failure to perform the Required Minimum Performance within the agreed deadline – 0.02% of the Contractual Amount per each day of delay
• The Contracting Authority reserves the right to supplementary compensation which adapts the amount of contractual penalties to the amount of damage actually suffered.

The contract value exceeds 10% of the equity of Budimex S.A.