Budimex, Ferrovial Agroman's Polish subsidiary, has landed three new contracts: two in Warsaw and one in Lublin. The construction backlog in Poland amounted to almost 2 billion euro at mid-2011.
Madrid, September 20, 2011 Through Ferrovial Agroman's Polish subsidiary, Budimex, Ferrovial has clinched a number of construction contracts in Poland worth close to 80 million euro. Budimex has been engaged to build an office complex and a shopping mall in Warsaw. It has also signed a contract with the city of Lublin, in eastern Poland, to design and build a sports stadium.
The Warsaw complex, totalling 55,000 square meters, will include a shopping and services area and will cost a total of 39 million euro. Budimex will also build a shopping mall for Neinver Annopol, worth 14 million euro, which is scheduled to open late in 2012.
Additionally, the company has signed a contract with the city of Lublin to design and build a sports stadium and a number of ancillary facilities in the environs. This project, worth over 25 million euro, is scheduled for completion in September 2013.
Presence in Poland
In the first half of 2011, Budimex obtained 549 million euro in construction revenues, a 48.3% increase with respect to last year, in like-for-like terms. Its backlog amounted to 1.990 billion euro. In the same period, Ferrovial Agroman obtained revenues of 1.985 billion euro and the international backlog amounted to 6.665 billion euro, 67% of the division's total.
Budimex is currently in the process of acquiring PNI, a civil engineering company specialized in railway infrastructure design, construction and maintenance. Budimex's main contracts in Poland include construction of a section of the S17 highway in Lublin, the bridge over the Vistula river at Kwidzyn, several sections of the A2, A1 and A4 highways, and the renovation of the Wroc³aw railway station.