Consortium: Ferrovial, Estudio Lamela and Budimex have reached a settlement with the Polish Airports State Enterprise

On 8 August 2018, before the Court of Arbitration at the Polish Chamber of Commerce, a consortium of companies: Ferrovial Agroman S.A. with its registered office in Warsaw, Estudio Lamela S.L.P and Budimex S.A. concluded a settlement with the Polish Airports State Enterprise regarding the expansion of the Warsaw Okęcie International Airport – Construction of Passenger Terminal 2. together with the technical infrastructure”.

The settlement ends the 11-year litigation. In the opinion of the Management Board of Budimex S.A., the settlement is beneficial for each party. Under the agreement, the Consortium will receive payment only for part of the works and deliveries, including the refund of Retained Amounts made to Polish Airports in connection with the expansion of Terminal No. 2. By virtue of the settlement, the parties waive each other’s other claims and mutually waive the costs of long-term court proceedings upon its execution.

This is a great success of all parties to this proceeding. Together with PPL, we are ending a long-lasting dispute for the benefit of each of the entities. Thus, we enable further cooperation for the development of modern aviation infrastructure in Poland. The settlement was concluded with the active participation of the General Counsel to the State Treasury.– says Dariusz Blocher – President of the Management Board of Budimex.

The conclusion of the settlement will have a moderately positive impact on Budimex’s financial result in 2018. The final settlement of the payment along with the impact on the result will take place after three quarters of this year and the settlement of the contract by the consortium leader.