REG - S.N.G.N. Romgaz S.A. - Current Rep.-Works Contract CTE Iernut Development <Origin Href="QuoteRef">ROSNG.BX</Origin>
RNS Number : 0126OS.N.G.N. Romgaz S.A.01 November 2016CURRENT 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, 2016
Company name: Societatea Nationala de Gaze Naturale ROMGAZ S.A.Address: Medias, 4 Constantin I. Motas Square, Sibiu County - Romania, 551130
Phone/fax no: 004-0269-201020 / 004-0269-846901Fiscal 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 RNSThe company news service from the London Stock ExchangeENDMSCBBBTTMBJMBAF
Recent news on Societatea Nationala de Gaze Naturale Romgaz SA
See all newsREG - S.N.G.N. Romgaz S.A. - Announcement regarding Iernut Investment
AnnouncementREG - S.N.G.N. Romgaz S.A. - Election of BoD Chairman and Advisory Committees
AnnouncementREG - S.N.G.N. Romgaz S.A. - Availability of 9M and Q3 2020 Report & Conf call
AnnouncementREG - S.N.G.N. Romgaz S.A. - 9M 2020 Report on Key Operational Results
AnnouncementREG - S.N.G.N. Romgaz S.A. - OGMS Resolution October 23, 2020
Announcement