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Pin to quick picksRomgaz S Regulatory News (SNGR)

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Current Rep.-Works Contract CTE Iernut Development

1 Nov 2016 12:37

RNS Number : 0126O
S.N.G.N. Romgaz S.A.
01 November 2016
 

CURRENT REPORT

 

In compliance with the Romanian Capital Market Law no. 297/2004, art.224 and CNVM Regulation no. 1/2006, art.113

 

Report date: November 1, 2016Company name: Societatea Nationala de Gaze Naturale ROMGAZ S.A.

Address: Medias, 4 Constantin I. Motas Square, Sibiu County - Romania, 551130Phone/fax no: 004-0269-201020 / 004-0269-846901

Fiscal Code: RO14056826

Trade Register registration number: J32/392/2001

Subscribed and paid in share capital: 385,422,400 RON

Regulated market where the issued securities are traded: Bucharest Stock Exchange (BVB), London Stock Exchange (LSE)

 

 

Important event to be reported:

 

· S.N.G.N. ROMGAZ S.A. concluded a new legal document whose estimated value exceeds 10% of the net turnover for financial year 2015

 

In compliance with art.224 paragraph 5 of Law no.297/2004 on the Capital Market and art. 113.B letter c) of C.N.V.M. Regulation no.1/2006, S.N.G.N. ROMGAZ S.A reports the conclusion of the public procurement contract, by the open bid procedure, for performing the turnkey project "Development of CTE Iernut Power Plant by building a new combined cycle CCTG power plant."

 

One of the main strategic directions of S.N.G.N. ROMGAZ S.A is to consolidate its position on energy markets. In this case, in the field of electric power generation, the performance of this project aims to make the activity more efficient by: increasing CTE Iernut Power Plant efficiency to a minimum of 56%, compliance with the environment requirements (NOx , CO2 emissions) and improving safety operations.

 

The project is financed from own sources and funds from the National Investment Plan (NIP) in compliance with GD 1096/2013, updated.

 

Party to the Agreement

Partnership between DURO FELGUERA S.A. and S.C. ROMELECTRO S.A.

 

No and date of Agreement

Works contract no.13384/October 31, 2016

 

Scope of Agreement

Performance of the turnkey project (namely design, equipment delivery, performance of works and commissioning) "Development of Iernut Power Plant by building a new combined cycle CCGT power plant."

 

Duration of the Contract

Works completion term: 36 months from the effective date of the contract. The contract shall be effective within 5 working days from the date the NIP financing is approved, by complying with GD 1096/2013, updated

 

Estimated Value of Agreement (VAT exclusive)

 

268,836,329.82 EUR

 

Terms and Methods of Payment

- For the technical project: 30 days from ROMGAZ endorsement

- For equipment: 30 days from the acceptance at the location

- For works performed: 30 days from ROMGAZ confirmation of works status

 

Mutual Receivables

Not applicable

 

Issued Guarantees

Performance bond in amount of 10% from the contract value (VAT exclusive)

 

Penalties

 

- For the works provider: 0.1%/day for the value of the not fulfilled obligations

- For ROMGAZ: 0.1%/day from the outstanding payment

 

 

 

Director General,

Virgil - Marius METEA

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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