Construction of Warsaw airport terminal hits turbulence

The opening of the second terminal, worth $200 million, was scheduled for April 2006. However, now it is not certain, if the building will be ready in time. The management board of Budimex confirmed that the contract has already decreased its results by zł.68.5 million, and the analysis are still being conducted. "The contract was signed in dollars and since that time the currency dropped considerably. In 2002 when we signed the deal the dollar cost zł.4, now it is nearly zł.1 less. You can easily calculate that the consortium will receive zł.200 million less than expected," explained Budimex's financial director. The members of the supervisory were outraged when it turned out that the consortium had not covered the rate risk. "It must be a joke. We have been assured about the security standard of the contract," said Ryszard Jach, member of Budimex's supervisory board. (Puls Biznesu, p. 4) A.F.