Current report no 76 / 2014

Current report no 76 / 2014 - 22 September 2014 / 00:00

Construction of S7 express road section Miłomłyn-Olsztynek, subsection Miłomły-Ostróda Północ (subsection “A”) - information about the selection of the offer by Budimex SA

The Management Board of Budimex SA announces that on 22 September, 2014 it was informed by the General Directorate for National Roads and Motorways, Branch in Olsztyn, about the selection of the bid placed by the consortium of Budimex SA (consortium leader with 95% share) and Ferrovial Agroman SA with its registered office in Madrid (consortium partner with 5% share) as the most favourable in proceedings concerning the public procurement procedure within the limited tender for “Construction of S7 express road section Miłomłyn-Olsztynek, subsection Miłomły-Ostróda Północ (subsection “A”)”.

  • Value of the bid: PLN 237,635,645.98 net.
  • Commencement date: the construction site will be handed over within 30 days of the date of concluding the contract.
  • Completion deadline: 20 months after the date of concluding the contract (winter periods, i.e. between 15 December, and 15 March, shall not be included in the completion deadline).
  • Guarantee periods: 10 years.
  • Financial terms and conditions:
    • Advance payment: 5% of the approved gross contractual amount
    • Payment: 30 days after the Contracting Authority receives a VAT invoice.
    • Performance bond: 10% of the approved gross contractual amount.
  • Maximum penalties payable by the Contractor:
    • 20% of the approved gross contractual amount.
  • Penalties payable by the Contracting Authority:
    • 15% of the approved gross contractual amount for withdrawal from the agreement for reasons attributable to the Contracting Authority.
  • The Contracting Authority reserves the right to claim supplementary damages, increasing the amount of liquidated damages to the amount of the actual damage which has been suffered or may have been suffered as a result of the Contractor’s ill-performance of the contract.

The contract value exceeds 10% of the equity of Budimex S.A.