Budimex.pl

Current report no 67 / 2019

Date: October 7, 2019 12:28 PM

P-21 Extension of the copper concentrate storage building at the Charge Preparation Plant of Głogów Copper Smelter II – Stage 2 – signing of the contract

The Management Board of Budimex S.A. announces that on 7 October 2019 was informed by the Management Board of the subsidiary Mostostal Kraków S.A. (a 100% subsidiary of Budimex S.A.) that on 7 October 2019 contract has been concluded between Budimex S.A and KGHM Polska Miedź S.A. for the turnkey task of "P-21 Expansion of the copper concentrate warehouse at the HMG II Batch Preparation Department – Stage 2.

 

The information that our bid had been selected as the most advantageous one was communicated by us in current report No. 57/2019 on 28 of August 2019.

 

Bid value: PLN 81,923,000 net.

 

The total number of the orders signed with the same Ordering Party and the aforementioned bid in the last 12 months amounted to PLN 218,923,000 net. The agreement of 23 August 2019 for the construction and erection works for the task entitled P-7 Retrofit of the Bath Hall of Głogów Copper Smelter I – restoration of hall roofing and walls is the highest-value order.

 

Terms of the highest value contract:

 

Contract value: PLN 83,000,000 net

 

Works commencement date: upon signing the contract

 

Works completion date: 20 December 2021

 

Guarantee period: 36 months

 

Statutory warranty period: 36 months

 

Advance payment: none

 

Payment terms: 60 days from the day of delivery of a correct VAT invoice to the Ordering Party by the Contractor

 

Bank performance bond: 10% of gross remuneration.

 

Maximum value of contractual penalties payable by the Contractor: 100% of the net total contractual remuneration

 

Penalties payable by the Ordering Party do not deviate from market standards.

 

The Ordering party reserves the right to seek damages under general applicable rules if the amount of loss sustained exceeds the amount of the stipulated penalty. The Contractor shall not be liable for lost profits.

 

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

 

Total value of contracts signed between Budimex and its subsidiaries and the Ordering Party, including the bid value, exceeds the threshold of PLN 147,743 thousand net.

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