Current report no 87 / 2011

Construction of the wind towers factory - failure to meet the conditions suspending the entry into force of the contract

With reference to Current Report No. 83/2011 of 6 October, the Management Board of Budimex S.A. announces that by 31 October 2011 the conditions suspending the entry  into force of the Contract were not met, the conclusion of which was announced in the mentioned Current Report No. 83/2011, consisting of paying the advance payment by the Contracting Authority, submitting a bank statement on obtaining credit and meeting credit payment terms and conditions by the Contracting Authority and submitting a signed contract on bailout from the EU funds by the Contracting Authority. Nevertheless, the parties are conducting negotiations. Their results will be included in the next Current Report concerning this contract.