Budimex.pl

Current report no 48 / 2020

Date: July 28, 2020 9:41 PM

Information concerning the proposal to change the deadline for completing the construction of a power unit at the Turów Power Plant

The Management Board of Budimex S.A. (the “Company”), with reference to current reports No 56/2014 of 10.07.2014, No 81/2015 of 25.11.2015, No 83/2015 of 14.12.2015 and No 15/2019 of 29.03.2019, informs that the consortium of companies comprising Mitsubishi Hitachi Power System GmbH (Consortium Leader), Tecnicas Reunidas S.A. and Budimex S.A. (the “Consortium”) submitted to PGE Górnictwo i Energetyka Konwencjonalna S.A. (the “Employer”) a proposal to change the deadline for completing the construction of a new power unit at the Turów Power Plant, a project developed by the Consortium under the contract announced by the Company in the above-mentioned reports (the “Contract”). In the proposed schedule, the date of handover for operation of Unit No 7 is shifted from 31 October 2020 to 30 April 2021.

 

The reasons for the shifts in the planned schedule are issues beyond the Consortium’s control and related to the COVID-19 pandemic, changes in legislation and other resulting circumstances that affect the Consortium’s ability to deliver its obligation within the deadlines set out in the Contract. In addition, the Consortium raises the issue of increased cost of the project, which will be further discussed with the Employer.

 

The proposed amendments to the Contract are valid subject to the cessation of the negative impact of the above-mentioned circumstances on the performance of the Contract.

  

The Employer’s decision regarding the amendment of the Contract in connection with the schedule submitted by the Consortium as well as the possible change of remuneration will be announced by the Company in a separate report.

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