PRICE REVISION FORMULA

FINDINGS FROM CONTRACTORS SUBMISSION

THE PROPORTIONAL FORMULA
1. The formula has been modified with the introduction of a foreign
exchange component which is contrary to the provisions in the
contract.
2. The index of the base month for supply and maintenance of plant
EPo has been modified to 824.49 instead of 827.34.
3. The corrected values of IPCs of work done were not used in the
determination of the price revision.
THE MONO MATERIAL FORMULA
4. For the Mono material, the price of steel and bitumen at the tender
stage Po used in the calculation was not correct.
5. For the Mono material, the price of cement used at the tender stage
Po of 130,000, should have been 130.00 needs
verification/confirmation.
6. For the Mono material, the Base month index for the material used in
the calculation was not correct.
7. For the Mono material, the current month index for the material used
in the calculation was not correct.