44/2010 - Information on the conclusion of a significant contract
The Management Board of Trakcja Polska S.A. (“Company”) hereby announces that, on 16 December 2010, Przedsiębiorstwo Robót Kolejowych i Inżynieryjnych S.A., with its registered office in Wrocław (“PRKiI”), a subsidiary of the Company, as the Proxy of the consortium consisting of:
1. Przedsiębiorstwo Robót Kolejowych i Inżynieryjnych S.A., with its registered office in Wrocław – Proxy of the consortium;
2. Przedsiębiorstwo Napraw i Utrzymania Infrastruktury Kolejowej w Krakowie sp. z o.o., with its registered office in Krakow – Consortium Partner;
(hereinafter, jointly the “Contractor”)
concluded a contract with PKP Polskie Linie Kolejowe S.A., with its registered office in Warsaw (hereinafter “Contracting Authority”), within the framework of the task:Design and performance of construction works on the Kraków–Medyka – state border railway line on the Dębica–Sędziszów Małopolski section at km 111.500–133.600 within the framework of the Project named “Modernisation of the E 30/C-E 30 railway line, Kraków–Rzeszów section, stage III”(hereinafter “Contract”).
Contract Value:
Total net Contract value:PLN 387,459,300.00 (in words: three hundred and eighty-seven million, four hundred and fifty-nine thousand, three hundred and 00/100 zlotys).
Total gross Contract value:PLN 409,169,400.00 (four hundred and nine million, one hundred and sixty-nine thousand, four hundred and 00/100 zlotys).
Contract value attributable to PRKiI: approximately 80%.
Subject of the Contract:
Under the Contract, the Contractor shall perform discipline-specific works related to the design and performance of construction works on the Kraków–Medyka – state border railway line on the Dębica–Sędziszów Małopolski section at km 111.500–133.600 within the framework of the project named “Modernisation of the E 30/C-E 30 railway line, Kraków–Rzeszów section, stage III”, Tender 2.2.
Timing of Contract Performance:
36 months from the date of the start of works (in accordance with the Contract), but no later than by 30 September 2013.
Period of warranty for defects
1 year
Liquidated damages:
The Contractor shall pay the Contracting Authority liquidated damages in the following cases and at the following amounts:
- The Contracting Party shall charge contractual penalties for the late completion of the contract at the amount of 0.1% of the gross Contract value per day of delay.
- The Contractor shall pay liquidated damages of 1% of the total gross price for the presentation of untrue information on the qualifications of the management staff.
- 0.05% of the gross Contract value per day for exceeding the period of track closures with respect to the applicable detailed schedule of track closures.
- The Contractor shall also cover the costs of:
- train delays arising for reasons for which it is responsible, caused by the extension of the planned duration of the track closures and the unplanned occupation of the tracks during the works;
- train delays which arise as a result of defects in the devices or other events caused by the works Contractor;
- the introduction of substitute bus transport;
- the use of locomotives for pulling trains;
- the costs of the train schedule (preparation of a replacement schedule) for the closure of the tracks on the basis of an invoice issued by PKP Polskie Linie Kolejowe S.A. Centrum Zarządzania Ruchem Kolejowym, in accordance with the number of train-km of trains, for which a correction shall be made.
The costs arising from train delays shall be charged according to notes presented by the carriers, while the costs of introducing substitute bus transport and the use of locomotives for pulling trains shall be charged according to the invoices presented by the carriers.
The charges for correcting the train schedule shall be issued each time when the changes are ordered, regardless of whether or not the Contractor has started work. The only exceptions can be situations caused by a crisis situation.
- The parties to the Contract have reserved the right to claim supplementary compensation in excess of the value of the liquidated damages to the value of the damage actually incurred.
- The contractual penalties and liquidated damages shall be paid in the first instance by means of an offset against the Contractor’s fee.
- Maximum amount of liquidated damages – 15 % of the gross Contract value.
The value of the above Contract attributable to PRKiI is greater than 10% of Trakcja Polska S.A.’s equity and therefore constitutes a significant contract, as defined by § 2(1)(44) of the Regulation of the Minister of Finance of 19 February 2009 on current and periodic information submitted by issuers of securities and conditions for acknowledging the information required by the provisions of the law of a non-member state as being equivalent (Journal of Laws No. 23, item 259, as amended).
Legal grounds:§ 5(1)(3) of the Regulation of the Minister of Finance of 19 February 2009 on current and regular information published by issuers of securities and the conditions for accepting information required by the provisions of the law of a state which is not a Member State as being equivalent.
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