4 Project Cost
4.1 Condition of Cost Estimate
The Project cost is estimated based on the following conditions.
(1) The Project costs comprise the direct construction costs, procurement costs of equipment, land acquisition/compensation costs, engineering service costs, administration costs and physical and price contingency.
(2) The Project costs are estimated based on the price level of mid 1998 and the exchange rates of LE 1.0=38 Yen.
(3) The physical and price contingency are assumed based on each category of works in percentage, 10% for civil and building works and 5% for mechanical and equipment works.
4.2 Construction Cost
The construction cost is estimated at 10,408,091,000 Japanese Yen as summarized below.
4.3 Land Acquisition Cost
All required land shall be acquired for the construction of project facilities by SCA prior to commencement of construction works. The cost of land acquisition is estimated LE6,842,000 (Six million Eight Hundred Forty Two Thousand).
4.4 Administration Cost
The administration works are required for management works during the Project implementation by the SCA staff. The administration cost is estimated at LE 2,000,000 (Two million).
4.5 Project Cost
The total Project cost is estimated at 11,558,790,000 (Eleven Billion Five Hundred Fifty-Eight Million Seven Hundred Ninety Thousand) Japanese Yen, consisting of 10,077,624,000 (Ten Billion Seventy-Seven Million Six Hundred Twenty-Four Thousand) Japanese Yen for foreign currency portion and LE 26,124,368 (Twenty-Six Million One Hundred Twenty-Four Thousand Three Hundred Sixty-Eight) or equivalent 992,726,000 Japanese Yen. The cost of each work is shown in Table 4.1.1.
