Adventure World Warsaw
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Adventure World troubles

The announcement came as Dutch-based Imtech revised the scale of losses on jobs in Poland and Germany from €100m to €300m, after bringing in new management teams to assess the problems.

After a thorough review of the Adventure World Warsaw project the firm has raised the scale of loss from €100m to €150m.

A new management team at the German business estimates another write-off of €150m is needed after a lower estimation of work in progress and finding losses were being passed on to the future without proper justification.

Source:
http://www.constructionenquirer.com/2013/02/27/imtech-plans-e500m-rights-issue-as-losses-soar/

Ahhh someting to add. The entire AWW team is send on leave and the server is on down time.

Ha Ha Ha....this is really funny again.

Did you work for them?? Believe what you see in the news and it will open you a lot of doors. The main gate of AWW perhaps. Don't give up hope my friend.... Paper is VERY patient. This is a part of the "time saving procedure" to bail out. What would you say if you stand alone with a project without having the funds and a lot of politicians and other staring at you from a safe distance with huge question marks in their eyes and chain links in their hands with big heavy balls at the end of the chain?

With regard to the support of AWW: Sure! I truly believe that AWW give any support to find out where the money is and tomorrow Santa Claus is coming again and shoot the messenger.

Didn’t we have a similar action with the Dutch company who build the roller coasters and this western theme park in Germany recently? WOW!

007…..Perhaps they have a job for you at AWW....Who knows...I am pretty much sure that they are looking for volunteers since the money of Imtech is gone now. I am confident that they, Imtech and Mr. AWW are not "good friends" anymore as announced during the ground breaking and water pumping ceremony.

“Imtech has been severely harmed by lack of financing of its largest customer in Poland, and possible irregularities in respect of Imtech projects” in the country, the Gouda-based company said in a statement. “Imtech has ordered a forensic investigation into the situation.”

The projects in the probe include a 680 million-euro contract that Imtech said in July was its largest order ever. The project involved final completion of Adventure World Warsaw, a 240-hectare (575-acre) theme park and resort to include hotels, restaurants and 25 attractions.

Adventure World Warsaw is confident that long-term financing will be secured in the second quarter at the latest, the park’s management board said in a statement. “We’re saddened by the recent information on the internal problems” at Imtech and offer any assistance needed with the investigation, the board said.

Source:
http://www.sfgate.com/business/bloomberg/article/Imtech-Declines-on-Writedown-at-Largest-Project-4248985.php

Ha Ha Ha....this is really funny.
I see NON of these comments are coming from the direct source and are more about "you know what I have heard..?!?!" But it is good to hear something at all.
If this is a scam??! You really think that IMTECH is sooo stupid and put money into a dead born baby? Could be.
It is at least clear that this could be a good opportunity to clean some money. But…just make a step back; how long we hear that the building permit is coming next month (read the article http://www.pb.pl/2985279,28812,koniec-bajki-pod-warszawa) and that the investment will come in the 2nd half of the year.
Which year....they never tell you.
Come up Mr Mosche Greindinger...!!! It's your change now to build your park only few miles away from the AWW.

Fact is that the AWW has (had) a lot of "wannabe theme park experts" on their team and if they are going to plan a recycling plant close to the project too…...you can imagine what will happen with both of the projects.
It was a pleasure and funny to see the AWW team during the IAAPA in Orlando last year making nice faces to the ride manufactures. This time they had even a nice smile on their faces and not these arrogant behavior the had before. Now they need something…..MONEY!! Good that Mr. JP Mulder was not there. He probably would have had to answer many nasty questions like; when do we get the contract signed for the first payment. Could you give us the right times for our manufactory to start…. And so on and so on.
What I do NOT understand that companies like the rides manufacture from the south of the country (I am not speaking about the Dutch company from the south of the Netherlands) present themselves on the ground braking and other press conferences so confident. The Dutch company have pumped a lot of money into it with the result that Huisman got probably pissed off with them and kicked them out of the company.

You know...to build a theme park, you need the right people who know how to build a project like that. Not people who sold shoes before and made some experience during a long trip across the US and visited all theme parks to get the impression and have a look how it works back stage.
But...if you have enough buddies from the Dutch connection....You are fine. It is a shame.
The total investment was obviously available recently but for some reason the Saudis pulled their money out of the project and the project was programmed to go in their knees. The land, not the land where the project should be build first but another much more smaller, was bought just recently but what they forgot was to get an expert to do some resurge on the ground. The ground water level was that so high that it would have been better to make a movie about "Swamp People" Put some Alligators and snakes in and make a nice story about it. The theme park designers, originally from the deco industry, have probably the pest position on this project. If they could have done a design and build….I doubt.

But, pumping the ground water out was not an alternative as the water was used by the people living around there. It is such a pity for the people in Poland if the project wouldn't be build so we hope that Mulder will bring the money the 2nd half of this year. Otherwise he would have to bail out. Imtech had laid off 35 people (end of january). Another Polish Engineering office, one of the most important companies on this project at all, removed all people and stop to work for AWW. And you have questions about the future of this project?

Things are getting clearer now. Imtech is responsible for all the ICT, security and energy of the park for a total amount of 620 million euros. Imtech discovered the bills for all the work that has been done so far haven't been paid. They asked the management for explanation but they didn't answer. It's not clear which party committed fraud. The local management of Imtech in Poland or the client itself. It's possible the whole project will be cancelled, but it's also possible they manage to find some new financing.

At this moment Imtech is down 45% on the AEX-index. The shares are dumped massively.

Source: http://nos.nl/artikel/470109-strop-imtech-100-mln-door-fraude.html

There are some problems with the company Imtech that's involved in the development of Adventure World Warsaw. The papers quote this morning that the company has to write-off 100 million euros due to some "possible irregularities" and residual payments, caused by the theme park project and a Polish energy project.

Source: http://www.telegraaf.nl/dft/bedrijven/imtech/21267750/__Adventure_world_Polen_nachtmerrie_voor_Imtech__.html

Starting work in April?

The main highlight of the year for Jora Vision was definitely the involment of the company in the design work of Adventure World Warsaw, the most ambitious theme park and resort project in Eastern Europe whose opening is scheduled in Poland for 2015. Jan Maarten de Raad adds: “It is a big and great project for us! More than 30 people here are working full time, that’s quite a large number of designers, especially in Europe! This project has been very important in the further development of our company. Building it will be a historical step in European leisure industry comparable with Disney coming to Paris. The project is moving forward, we will start working on-site in April cause the winter is very harsh over there.”

Source:
http://www.newsparcs.com/en/article/00005998-jora_vision_ready_for_new_challenges_interview_with_ceo_jan_maarten_de_raad

I really dont know. I'm only writing what I'm reading on Adventure World Warsaw Facebook profile.

Originally Posted by Anonymous

Answers here false. Groundbreaking party in Oct. no investor named? Groundbreaking without permits? Why AWW telling truth now? http://inparkmagazine.blogspot.co.uk/2011/12/we-pose-some-questions-to-adventure.html

IPM: What are the funding sources for Adventure World Warsaw?
AWW: In line with the investor agreement, this information must stay confidential until we start construction work on AWW. Full financing for the project has been guaranteed by the investor and is conditioned only by providing the building permit, which will be achieved most probably in June 2012. Las Palm has spent over 11 mln euro on the project so far. We believe this amount of financial resource shows our determination and serious intentions to bring the first amusement park in Poland at this scale.

IPM: Is this correct: Groundbreaking in July 2012, opening in 2014?
AWW: Yes, these are the latest dates according to our revised schedule from December 2011. Start of construction has been so far delayed by half a year due to formal issues not depending on Las Palm company, which is leading the project. But together with the Mayor of Grodzisk Mazowiecki, we are successfully overcoming these obstacles, within which the greatest challenges were the land re-zoning and funding of the existing and future roads. We anticipate the various positive decisions to be made between February and July 2012 which will allow us to start the ground works.

IPM: Who owns the land on which AWW will be developed?
AWW: Las Palm has signed preliminary agreements with the private land owners who are mostly farmers. The ownership will be finally moved to Las Palm by purchasing the land next year after the zoning plan is agreed by the local authorities which is anticipated to happen in April 2012.

Answers here false. Groundbreaking party in Oct. no investor named? Groundbreaking without permits? Why AWW telling truth now? http://inparkmagazine.blogspot.co.uk/2011/12/we-pose-some-questions-to-adventure.html

IPM: What are the funding sources for Adventure World Warsaw?
AWW: In line with the investor agreement, this information must stay confidential until we start construction work on AWW. Full financing for the project has been guaranteed by the investor and is conditioned only by providing the building permit, which will be achieved most probably in June 2012. Las Palm has spent over 11 mln euro on the project so far. We believe this amount of financial resource shows our determination and serious intentions to bring the first amusement park in Poland at this scale.

IPM: Is this correct: Groundbreaking in July 2012, opening in 2014?
AWW: Yes, these are the latest dates according to our revised schedule from December 2011. Start of construction has been so far delayed by half a year due to formal issues not depending on Las Palm company, which is leading the project. But together with the Mayor of Grodzisk Mazowiecki, we are successfully overcoming these obstacles, within which the greatest challenges were the land re-zoning and funding of the existing and future roads. We anticipate the various positive decisions to be made between February and July 2012 which will allow us to start the ground works.

IPM: Who owns the land on which AWW will be developed?
AWW: Las Palm has signed preliminary agreements with the private land owners who are mostly farmers. The ownership will be finally moved to Las Palm by purchasing the land next year after the zoning plan is agreed by the local authorities which is anticipated to happen in April 2012.