Agreement signed

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News 30 July 2012
The consortium, of which ELEKTROBUDOWA SA is a leader, has come to an agreement with Narodowe Centrum Sportu in the subject of payment for works performed at the construction of the National Stadium in Warsaw (the project was jointly executed by Hydrobudowa Polska, PBG and Alpine).
Total remuneration for the three subcontractors - ELEKTROBUDOWA SA, Qumak-Sekom and Przedsiębiorstwo Agat for the works at the stadium approximates 138.5 million PLN. Until now the companies have been paid 115.5 million PLN by the General Contractor. The agreement reached with the NCS provides that the remaining amount will be paid within three business days from the date of concluding the agreement before the court.
The NCS is settling the accounts with the subcontractors because the consortium which built the stadium has not met their financial liabilities. However, the consortium representatives have informed that NCS did not paid them for some of ordered services. The value of unpaid works as at the beginning of June was estimated for about 120 million PLN (the sums owed to subcontractors amounted to 60 million PLN then), whereas the amount claimed from the NCS for as much as 450 million PLN. On the other hand NCS demanded penalties for delays from the consortium in the amount of 308 million PLN.
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