2010-07-23
Current report no 30/ 2010 - Signature of a significant contract for the execution of the 2nd stage of the "Czajka” sewage treatment plant collector construction.
The Board of HYDROBUDOWA POLSKA S.A. (the "Issuer”) informs that on the 22nd of July 2010 a Consortium ("Executor”) comprised of:
1. Przedsiębiorstwo Robót Górniczych ''METRO'' Ltd. – Consortium Leader
2. HYDROBUDOWA POLSKA S.A. – Consortium Partner
3. HYDROBUDOWA 9 S.A. - Consortium Partner
4. INFRA S.A. – Consortium Partner
Signed a contract with Miejskie Przedsiębiorstwo Wodociągów i Kanalizacji w m.st. Warszawie S.A. (“Ordering Party”) for the execution of the task named: “Construction of the sewage transfer system from left bank Warsaw to the Czajka sewage treatment plant – Stage II, in the scope of constructing structures of the Farys Plant, the Vistula bank siphon, structures of the Świderska Plant and right bank collectors”.
The net value of the signed contract is: 144 771 027,99 PLN.
The Parties agreed that the contract will be completed by the 31st of December 2011.
The Parties agreed on the following percentage distribution of work:
- P.R.G. „METRO” Ltd. as the Consortium Leader will carry out 40% of the work associated with the execution of the task and will be responsible for coordination and supervision of work,
- HYDROBUDOWA 9 S.A. as the Consortium Partner will carry out 40% of the work associated with the execution of the task,
- HYDROBUDOWA POLSKA S.A. – as the Consortium Partner will carry out 15% of the work associated with the execution of the task,
- INFRA S.A. - as the Consortium Partner will carry out 5% of the work associated with the execution of the task.
The contract includes provisions regarding contract penalties according to which the Executor will pay the Ordering Party a contract penalty for delays in carrying out the task in the amount of 0,01% of the Approved Contract Sum (including VAT) for every day of delay.
The total amount of contract compensations cannot exceed 10% of the Approved Contract Sum (including VAT).
The contract penalty does not have an exclusive character and the Ordering Party is entitled to claim compensation on general terms, as long as the value of damage done does not exceed the sum of contract penalties established in the contract.
Przedsiębiorstwo Robót Górniczych ''METRO'' Ltd. and HYDROBUDOWA 9 S.A. are part of the HYDROBUDOWA POLSKA Capital Group.
HYDROBUDOWA POLSKA S.A. is part of the PBG Capital Group
The criterion of considering this contract as significant is the value of the Issuer’s equity capital.
Legal foundation: §5 item1 point 3 of the 19th of February 2009 decree regarding current and periodic information published by issuers of securities.
