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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 was halted in early September, when the project’s general contractor, Rafak from Poland, built the biofuel combustion plant, ran into financial difficulties and sued the company for restructuring.
“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. 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 the Ignitis Group company’s cogeneration plant (VKJ) terminated the contract with Rafak on October 6, almost 11 million LTL remained unpaid by these companies alone. 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 a peaceful agreement with the VKJ, but if they do not do so, they intend to defend their interests through legal means.
“Opening the court doors would freeze not only the funds of the contractors for a long time, but also the process of building the plant itself,” the report read.
According to him, VKJ has already acquired more than 15 million from the Polish company. Performance guarantee fund in euros. The VKJ itself publicly announced that Rafako had paid much less than the work done.
Ignitis Group has previously announced that the termination of the Rafak contract may delay the start-up of the biofuel plants by approximately one year, which is scheduled for the fourth quarter of next year; the company will have to find new contractors to complete the works.
The construction of the power plant will cost about 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.
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