Current report no 42 / 2022

Current report no 42 / 2022 - 7 July 2022 / 15:50

Expansion of the largest container terminal in the Baltic Sea DCT in Gdańsk "Project T3" - signing the contract

The Management Board of Budimex SA announces that on 7 July 7 2022 the contract has been concluded between Budimex SA (Consortium Leader) and DREDGING INTERNATIONAL NV (Consortium Partner), and DCT Gdansk Sp. z o.o. for the design and build of the DCT Container Terminal in Gdansk “Project T3”.

In its first phase, the new terminal will increase DCT Gdansk’s handling capacity by 1.7 million TEU to a total of 4.5 million TEU (20-foot containers) per year.

Participation of consortium members in the consortium: Leader 75.00%, Partner 25.00%

Contract terms:

Contract value: EUR 245,016,229.00 net

Deadline for commencement of works: 28 days after the issuance of the Notice to Proceed by the Employer, unless otherwise agreed by the Parties

Deadline for completion of works: from 1030 days

Warranty period: 120 months excluding the following works: 72 months applies to steel structures, buildings with installations, electromagnetic installations and electromechanic installations. A period of 36 months applies to IT systems, equipment and signage (if the manufacturer’s warranty is longer, the manufacturer’s warranty applies).

Defects Liability Period shall not apply to the dredging works.

Statutory warranty period: in accordance with the provisions of applicable law

Advance payment: EUR 55 million

Payment terms: within 28 days after the issuance of the Interim Payment Certificate, and within 30 days for the Final Payment Certificate. Deadline calculated from the date of receipt of a correct invoice

Bank performance guarantee: Performance Bond: 10% (Defects Liability Bond 2.5%)

Maximum value of liquidated damages payable by the Contractor: 10% of the Net Contract Price

Other contractual conditions do not deviate from market standards.

The value of the contract exceeds the threshold of PLN 158,224 thousand net