Conformed Copy - C3569 - Songo Songo Gas Development and Power Generation Project - Project Agreement

Page 1 CONFORMED COPY CREDIT NUMBER 3569 TA Project Agreement (Songo Songo Gas Development and Power Generation Project) between INTERNATIONAL DEVELOPMENT ASSOCIATION and SONGAS LIMITED Dated October 11, 2001 CREDIT NUMBER 3569 TA PROJECT AGREEMENT AGREEMENT, dated October 11, 2001, between INTERNATIONAL DEVELOPMENT ASSOCIATION (the Association) and SONGAS LIMITED (Songas). WHEREAS (A) by the Development Credit Agreement of even date herewith between the United Republic of Tanzania (the Borrower) and the Association, the Association has agreed to make available to the Borrower an amount in various currencies equivalent to one hundred forty-five million seven hundred thousand Special Drawing Rights (SDR 145,700,000), on the terms and conditions set forth in the Development Credit Agreement, but only on condition that Songas agree to undertake such obligations toward the Association as are set forth in this Agreement; (B) by a Subsidiary Loan Agreement to be entered into between the Borrower and Songas, the proceeds of the credit provided for under the Development Credit Agreement for Part A of the Project will be made available to Songas on the terms and conditions set forth in said Subsidiary Loan Agreement; and (C) Songas, in consideration of the Association