Budimex.pl

Current report no 54 / 2018

Date: July 30, 2018 4:20 PM

Design and construction of A-1 Motorway: Tuszyn (without junction) – border of Łódź and Silesia provinces from km 335+937.65 to km 399+742.51. Section A – signing of the contract

The Management Board of Budimex SA announces that on 30 July 2018 the Consortium of Budimex SA (Consortium leader with 50% of shares) and Strabag Sp. z o.o. (Consortium partner with 50% of shares) signed the contract with the Łódź Branch of the General Directorate for National Roads and Motorways for the “Design and construction of A1 Motorway: Tuszyn (without junction) – border of Łódź and Silesia provinces from km 335+937.65 to km 399+742.51. Section A – Tuszyn junction (without junction) – Bełchatów junction (including junction) from km 335+937.65 to km 351+800.00.”

 

We have announced that our consortium’s bid had been selected by the Ordering Party as the most advantageous bid in our current report No. 36/2018 of 7 June 2018.

 

Contract value: PLN 389,328,410.46 net

 

Works commencement date: date of concluding the contract by and between the Ordering Party and the Contractor

 

Works completion date: 32 months from the date of the Contract conclusion (including obtaining the decision on the permit for use). 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).

 

Guarantee period for main works: from 5 to 10 years

 

Statutory warranty period: 60 months

 

Advance payment: from 5% to 10% of the Accepted Gross Contract Amount.

 

Payment terms: 30 days from the submission of a properly issued VAT invoice to the Ordering Party.

 

The total value of the bank and insurance performance bonds is 10% of the Accepted Gross Contract Amount, of which 5% in the form of the insurance guarantee was brought by Budimex S.A. and 5% in the form of bank guarantee was brought by Strabag Sp. z o.o.

 

Maximum penalties payable by the Contractor: up to 20% of the Accepted Gross Contract Amount

 

Contractual penalties payable by the Ordering Party: 15% of the Accepted Gross Contract Amount for withdrawal from the contract due to reasons attributable to the Ordering Party.

 

The Ordering Party reserves the right to demand supplemental damages in excess of contractual penalties to the amount of the actual loss that was incurred or could be incurred due to the improper performance of the Contract by the Contractor.

 

Other terms and conditions of the contract do not differ from the market standards.

 

The value of the contract exceeds the threshold of PLN 127,386 thousand net.

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Shareholdership structure as on 18.06.2020

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