Project Cost Estimate. The total cost of the project, excluding custom duties and taxes, is estimated at 22 136 215 € [2 434 983 650 ECV], including allowances for physical contingency on the dis- tribution network and price escalation. The project cost estimate is based on actual contractual values for works and consulting services and discussions with XXXXXXX. A summary of the project costs is presented in Table 1. 1 Studies 0.212 1.0 2 Construction of Power Production Plants [ Four Islands] 13.926 62.9 3 Installation of Network Distribution Systems [ Four Islands] 6.011 27.2 4 Consultancy Services Supervision of Works and Control 0.950 4.3 5 Environmental Impact Management 0.100 0.5 6 Subtotal [ 1-5] 21.20 7 Physical Contingency [ 5% for MT & BT Network] 0.301 8 Price Escalation [ 3% of Subtotal -1] 0.636 9 Subtotal [ 7 & 8] 0.937 4.2 10 Grand Total 22.136 100.0 The project will be co-financed by ORET, OFID, EBID and the Government of Cape Verde. The contracts for the implementation of the production component [lot 1] and distribution component [lot 2] will be co-financed by ORET, OFID and EBID. The consultancy services will be financed by EBID up to the maximum amount of 450 000 Euros while the balance 50 000 Euros will be provided by GoCV. The GoCV counterpart contribution will be used to finance the studies [200 000 euros], Project Management, Environmental Measures and the Project Implementa- tion Unit to be established by Electra. Overall, EBID is expected to provide 3.937 million Euros, equivalent to 17.8% of the total project cost. A summary of the project financing plan is presented in Table 2. Studies 0.212 0.212 Construction of Power Production Plants 6.091 5.919 1.776 0.140 13.926 Installation of Network Distribution Systems 2.656 2.581 0.774 6.011 Consultancy Services 0.450 0.500 0.950 Environmental Impact Management 0.100 0.100 Physical Contingency 0.301 0.301 Price Escalation 0.636 0.636 Grand Total 8. 747 8.500 3.937 0.952 22.136 % 39.5 38.4 17.8 4.3 100.0 The respective project financing agreements have al- ready been signed between GoCV and ORET, and GoCV and OFID respectively.
