Supreme Court E-Library
Information At Your Fingertips


  View printer friendly version

September 09, 1983


AMENDMENT AGREEMENT FOR LOAN AGREEMENT NO. PH-P31 DATED JUNE 20, 1980 BETWEEN THE OVERSEAS ECONOMIC COOPERATION FUND, JAPAN AND THE GOVERNMENT OF THE REPUBLIC OF THE PHILIPPINES DATED SEPTEMBER 9, 1983

IN WITNESS WHEREOF, the Fund and the Borrower, acting through their duly authorized representatives, have caused this Amendment Agreement to be duly executed in their respective names and delivered at the office of THE OVERSEAS ECONOMIC COOPERATION FUND, Chiyoda-ku, Tokyo, Japan, as of the day and year first above written.

                                
For
For
THE OVERSEAS ECONOMIC
  COOPERATION FUND
THE GOVERNMENT OF THE REPUBLIC
  OF THE PHILIPPINES
(Sgd.) TAKASHI HOSOMI
(Sgd.) CARLOS J. VALDES
President
Ambassador /Extraordinary and
  Plenipotentiary of the Republic
  of the Philippines to Japan

SCHEDULE 1
  DESCRIPTION OF PROJECT

I. The Project consists of the following parts:

PART I.

(1) Location: Mahiao and Sambaloran field of Tongonan Geothermal area in Leyte Island

(2) Executing Agency: National Power Corporation

(3) Scope of the work:

(i) Construction of 3 x 37.5 MW generating plant and related transmission line facilities, including consulting services.

(ii) Development of geothermal field for 3 x 37.5 MW generating plant, including consulting services.

PART II.

(1) Location: Malitbog field of Tongonan geothermal area in Leyte Island

(2) Executing Agency: National Power Corporation

(3) Scope of the work:

(i) Construction of 3 x 37.5 MW generating plant and related transmission line facilities including consulting services.

 

(ii) Development of geothermal field for 3 x 37.5 MW generating plant, including consulting services. 

The proceeds of the Loan are available for the foreign currency portion of items (i) and (ii) of PART I, and item (ii) of PART II, and for the local currency portion of items (i) and (ii) of PART I.

However, the proceeds of the Loan shall not be used for local currency portion of such items in excess of a total of FIVE BILLION SIX HUNDRED MILLION Japanese Yen (¥5,600,000,000.), and the proceeds of the loan shall not be used for the portion of item (ii) of PART II in excess Of a total Of TWO BILLION SIX HUNDRED EIGHTY MILLION Japanese Yen (¥2,680,000,000.). The foreign and local currency portions shall be determined by the Fund. Any balance remaining on the aforementioned items and all other items are to be financed by the Borrower and National Power Corporation.

II Estimated annual fund requirements by currency are as shown below.

                                                                  
Calendar Year
Foreign Currency
  (in million JapaneseYen)
Local Currency
  (in million Pesos)
1983
2,702
63
1984
10,539
72
1985
8,215
90
1986
3,354
17
_______________________________________________________________
Total 24,810 242
 

Disbursement of the proceeds of the Loan shall be made within the limit of the Government's budgetary appropriations for the Fund.

III The Project is expected to be completed by the end of June, 1985 with respect to PART I and by the end of February, 1986 with respect to PART II.

SCHEDULE 2
  ALLOCATION OF PROCEEDS OF LOAN

I. Category

                                                                                                             
 
Estimated Amount
  (in million Japanese Yen)
(A) Foreign Currency Portion of::
13,200


 (i) Generating Plants
700
 (ii) Transmission Line Facilities
2,000
 (iii) Steam Production
8,220
 (iv) Consulting Services
580
 (v) Contingencies
1,700
 
(B) Local Currency Portion (See Note)
5,600
 
___________________
 
Total 18,800
 

Note: Items not eligible for financing under the local currency portion are as shown below.

 

1. General administration expenses
  2. Taxes and duties
  3. Purchase of land and other real property
  4. Compensation
  5. Other indirect items

 
 

II Reallocation upon change in cost estimates

1. If the estimated cost of items included in Categories (A) (i) through (A) (iv) and (B) shall decrease, the amount then allocated to, and no longer required for, such Category will be reallocated by the Fund to Category (A) (v).

2. If the estimated cost of items included in any of Categories (A) (i) through (A) (iv) shall increase, the amount equal to the portion, if any, of such increase to be financed out of the proceeds of the Loan, will be allocated by the Fund, at the request of the Borrower, to such Category from Categories (A) (v) and (B), subject, however, to the requirements for contingencies and local currency portion, as determined by the Fund, in respect of the cost of items in the other Categories.



© Supreme Court E-Library 2019
This website was designed and developed, and is maintained, by the E-Library Technical Staff in collaboration with the Management Information Systems Office.