Road Network Upgrading Projects of Dili-Liquica and Tibar-Gleno
Página 28 de 104
Government contribution initially estimated at 23.9 million. The loan has a Grace Period of 10 years, repayment period of 30 years and Annual Interest Rate of 0.7 for construction works
and 0.01 for other consultancy services. The total project cost to be financed under the Loan Agreement with Japan International
Cooperation Agency JICA was estimated at US92.6 million inclusive of government contribution of 23.9 million. However, since the signing of the Loan Agreement, the dollar
value of the Yen has declined from JpY 76.8 per dollar at the time of Loan Agreement signing to JpY102 per dollar as of mid 2014. Also, on completion of the Detailed Engineering Design,
it was found that the cost of the works was higher than estimated during loan negotiations. The total cost of the project is now 121.4 million of which 51.8 million will be sourced from the
JICA Loan and 69.7 million will be from the IF. The first stage of the project concerns Detailed Engineering Design DED and studies. Three
international offices of the Nippon Koei group of companies in Joint Venture were appointed to carry out the works and will continue as Supervision Engineers when construction commences
which is expected to be towards the end of 2014. Pre-qualification of contractors for package 1 Hera-Manatuto road section is on-going which is expected to be finalized by 3rd quarter of
2014 and start of construction by first quarter of 2015. Package 2 Manatuto-Baucau road section is expected to start the project by 2
nd
quarter of 2015. Procurement for this project has suffered significant delays because the Government was waiting the non-objection letter of
JICA on the subject bidding documents and is waiting formal justification from the Government regarding the sourcing of the additional funds needed to complete the whole section.
For 2015, a total budget of 11.5 million has been allocated to this project.