[ad_1]
Ignitis grupė, which manages the project, acknowledges that the situation is difficult, but emphasizes that Lithuanian companies owe it to Rafako.
Six Lithuanian companies – Tilsta, Montuotojas, Axis Tech, Kaefer, Ulava and Elektrėnų Energetikos Remontas – announced that they have signed a memorandum that they will work together to pay for work already done.
Work on the biofuel unit, they said, was halted in early September after Rafako built the biofuel combustion plant after experiencing financial difficulties and a court-initiated restructuring case.
“We want to continue working on the power plant, but we no longer have that opportunity until we have paid for our work. Some contractors no longer have working capital today, others are in danger of bankruptcy. We have contacted VKJ several times. But so far this has not yielded any real results, ”says Gediminas Gribulis, director of Tilsta, representing the united contractors.
According to the companies, after Ignitis Group’s Vilnius Cogeneration Power Plant (VKJ) terminated the contract with Rafak on October 6, the latter only left the latter unpaid almost 11 million LTL. and Rafak’s total debts to Lithuanian builders amount to some 15 million euros. euros.
The companies that have signed the memorandum hope to reach an amicable agreement with the VKJ, but if they do not do so, they intend to defend their interests by legal means.
“Opening the court doors would freeze not only the funds of the contractors for a long time, but also the construction process of the plant itself,” the report read.
We want to continue working at the power plant, but we no longer have that opportunity until we have paid for our work.
According to him, VKJ has already acquired more than 15 million from the Polish company. Performance guarantee fund in euros. And Ignitis grupė publicly announced that Rafako had paid much less than the work done.
Ignitis Group: Rafako is in debt
The state-owned energy holding company Ignitis grupė says the situation is complicated both in legal and technical terms.
“Lithuanian construction companies had subcontracts with Rafak. We would like to emphasize that the Vilnius cogeneration plant with Rafako has fully resolved the terms and conditions stipulated in the agreement, therefore Rafako is indebted to the Lithuanian construction companies”, the group said in a comment to BNS.
According to the group, Rafako has not yet terminated contracts with subcontractors. To his knowledge, Rafako offers his creditors a repayment of around 60% over several years as part of a restructuring plan. arrears, as well as 20%. to cover the debts with Rafak shares.
“It would mean that only about a fifth of the debt would be direct losses for the companies.” The Rafak restructuring process should be completed on January 7, 2021, when it should be clear how the Lithuanian construction companies will be solved, “he says. the group.
The construction of biofuel plants, for which Rafako was responsible, has not been carried out since October. As a result, they are estimated to be operational not in the fourth quarter of 2021 as planned, but about a year later.
Ignitis Group could not say how many subcontractors Rafak had, as the contract required it to inform the group only of its main subcontractors, which numbered about 30.
“We are currently conducting a market study to evaluate potential contractors to carry out the work that Rafako herself had to do,” the company comments.
Ignitis grupė states that the termination of the contract with Rafako does not affect the construction of waste incineration plants; coordination of this part is proceeding as planned.
Association: There are problems with public procurement, the responsibility lies with the State
Dalius Gedvilas, president of the Lithuanian Builders Association (LSA), says that the implementation of state projects shows signs of gaps in the public procurement process.
“The bids are won by construction companies that do not have the capacity to execute projects. These projects include the construction of the Vilnius Cogeneration Power Station and Kaunas Stadium, and the reconstruction of Gediminas Hill. These cases clearly show that public procurement is aimed only at instant profits, ”said D. Gedvilas in the report.
Photo by the Lithuanian Builders Association / Dalius Gedvilas
According to him, it is also worrying that purchases are increasingly won by unsustainable foreign companies, which are probably only looking to make unfair profits.
The construction of the Vilnius cogeneration plant will cost around 350 million. of which Rafak was to receive around 150 million euros under the contract. euros.
The project is financed by the European Union (up to 140 million euros), a loan from the European Investment Bank (up to 190 million euros) and the group’s own funds.
[ad_2]
