Ferrovial loses 44.7 mln eur contract in Poland for missing deadlines - report

MADRID (Thomson Financial) - Grupo Ferrovial SA has lost a 44.7 mln eur contract to build a sports arena in Krakow, Poland, for missing deadlines, El Economista reported, without naming its source.

The contract, which was awarded in 2005, is the second that Ferrovial has lost in Poland over the past month and a half, it said, noting that the Polish government has also hit Ferrovial with two fines for failing to meet deadlines.

In addition, construction work for the Warsaw-Helsinki motorway, one of Ferrovial's main projects in Eastern Europe, has also been stopped amid EU disapproval as some of the tranches run near conservation areas.

Source: forbes.com