Hochtief scores permit for Villa Poema
Villa Poema estate is ready to kick off now that Hochtief Polska has received the construction permit it needs. This latest project is for 42 flats ranging from 38 sqm to 92 sqm along with 325 sqm of commercial space. Work is expected to start in the course of July, with the deadline set for the third quarter for 2012.
Covec on the offensive
Although the Covec-led consortium was kicked off the A2 construction site few weeks ago, it hasn’t given up on the contract yet. At any rate, it seems to insist on having the last word and is appealing to the Public Procurement Office against the decision of Poland road Agency (GDDKiA) to select a replacement, rather than holding a tender.
The story of infrastructure delays is as old as, well, infrastructure. It’s always the same, though the actors change: Contractor bids low, runs out of money, doesn’t pay subbies. Subbies go on strike. Contractor (Covec) demands more money, state investor (GDDKiA) tells Covec to take a hike, holds new tender for new GC.
Thus was it always with infrastructure projects, and so will it be in the case of the A2 motorway in Poland. German football lovers were promised hassle-free driving for the Euro 2012. Now they’ll have to settle for stop-start autobahn and will have to hope the stadium stairs don’t collapse. (We’re not making this up, by the way: the National Stadium is also behind schedule because its stairs failed a construction inspection).
Two weeks till A2 restart
Last Poland’s General Directorate of Roads and Highways (GDDKiA) has canceled its contract with the Chinese contractor Covec for the construction of two portions of the A2 motorway. It’s now demanding the company pay fines of PLN 741m for breaching the PLN 1.3m contract covering 50km of the highway linking Stryków with Konotopa. While it’s sacked the Chinese, it will still have to wait 14 days in order to select a replacement, according to Puls Biznesu daily reports. It’s not known yet whether the contractor will be selected by tender or through negotiations.
Bankrupt Techmex’s asset on sale
Danuta Wieczorek, the receiver in charge of the Techmex bankrupty, expects the list of claims against the company to be finalized within a few days, reports Parkiet.com. One of the company’s more valuable asset is an office building in Bielsk. Most of the offices are currently leased, and the rental income is covering costs. Sale procedures are expected to begin soon.
Covec cancels A2 contract
The Chinese contractor building a 50 km stretch of the A2 motorway accompany has announced it’s cancelling its contract with the Polish General Directorate of Roads and Highways. Covec blamed delayed payments from the state and unexpected rises in the prices of construction materials. The Polish Ministry of Infrastructure is insisting Covec make all back payments to its subcontractors.
Sawa Wilanów flats on sale
Flats are going on sale at Sawa Wilanów, a complex of seven 4-storey apartments buildings that’s being developed by Sawa Apartments and BRE Property Partner. Just 110 units will be built in the first phase of the project, which will eventually offer 300 units ranging in size from 30 sqm to 150 sqm. Prices start at PLN 6,600 and go as high as PLN 8,400.
A2: The Chinese funding gap
Covec, the Chinese consortium working on the A2 motorway construction has begun making payments to striking subcontractors who had endangered the road’s timetable. The Chinese contractor claimed it had run into cost overruns, but the Polish state (via the GDDKiA) had been refusing to finance the gap. Covec won the tender in large part because of the price it bid in the tender.
Metro station construction permit granted
Warsaw’s governor Jacek Rostkowski has approved the construction permit the Świętokrzyska station of the new metro line. It’s a key step in the delayed project, as the station will be a transfer point with the existing metro line. The permit for the Dworzec Wileński station still awaits approval.
Echo sells Bełchatow scheme
Eleven years after its completion, Echo Investment had sold its shopping center located in Bełchatów, near Łódź. The company signed a PLN 44m contract for the 9,300 sqm retail development with a Cyprus-based company. Echo will continue to carry out facility management of the center.
Panattoni hires Mirbud
Panattoni has signed a €3m contract with Mirbud for the construction of logistics and office space development in Łódź. Mirbud director Jerzy Migros told Puls Biznesu the contract was a breakthrough for his company, as Goldbeck and Depenbrock have built most of the important investments in Poland until now. Work is expected to be completed in December 2011.
Doubts about Chinese A2 contract Chinese A2 road indebted
The Chinese consortium Covec, which is working on 50 km of the A2 expressway linking Łódź and Warsaw, has made assurances that it will pay its subcontractors’ invoices by the May. Covec is reported to owe Polish contractors PLN 30m. The company has promised is will complete its portion of the motorway on time, though experts believe the company doesn’t have a chance.