Brief: Rafako Says Unit To Report Loss Amid Prolonging Jaworzno Power Plant Construction

Mostostal Warszawa SA

31/12/2019 07:16

Dec 31 (Reuters) - Rafako SA  RFK.WA :
    * SAID ON MONDAY THAT ITS SUBSIDIARY HAS REVISED A BUDGET
FOR THE
CONTRACT ON THE CONSTRUCTION OF A 910 MW POWER PLANT IN JAWORZNO
AND WILL REPORT A LOSS FOR 2019 IN THE ESTIMATED AMOUNT OF ABOUT
155.8 MILLION ZLOTYS
    * SAID THE LOSS IS DUE TO PROLONGED CONSTRUCTION TIME
    * AFTER THE BUDGET'S REVISION THE MARGIN ON THE CONTRACT HAS
BEEN
LOWERED TO ABOUT 5% FROM 8%
    * SAID IT HAS RECEIVED OVER 30% OF THE AMOUNT IT APPLIED FOR
TO
COVER THE COSTS OF THE PROLONGING OF THE CONTRACT
    * SAID IT PLANS TO ESTIMATE THE IMPACT OF THE SUBSIDIARY'S
LOSS ON
ITS 2019 CONSOLIDATED RESULT
    * SAID IT HAS INITIATED WORKS AIMED AT LIMITING THE
ESTIMATED
NEGATIVE IMPACT

    
 Source text for Eikon:  urn:newsml:reuters.com:*:nEMPRRWja
    
 Further company coverage:  RFK.WA  
   


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