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ACTION OES-06
INFO OCT-01 AF-08 EUR-12 NEA-10 ISO-00 FEA-01 ACDA-07
AGRE-00 AID-05 CEA-01 CEQ-01 CG-00 CIAE-00 CIEP-01
COME-00 DLOS-06 DODE-00 DOTE-00 EB-07 EPA-01 ERDA-05
FMC-01 TRSE-00 H-02 INR-07 INT-05 IO-13 JUSE-00 L-03
NSAE-00 NSC-05 NSF-01 OMB-01 PA-01 PM-04 PRS-01 SP-02
SS-15 USIA-06 SAL-01 /140 W
--------------------- 009752
R 201446Z OCT 76
FM AMEMBASSY FREETOWN
TO SECSTATE WASHDC 4108
INFO AMEMBASSY PARIS
AMEMBASSY MOSCOW
AMEMBASSY COPENHAGEN
AMCONSUL NICE
AMCONSUL CASABLANCA
AMEMBASSY MONROVIA
AMEMBASSY ACCRA
C O N F I D E N T I A L FREETOWN 3325
CASABLANCA FOR FISHERIES ATTACHE
EO 11652: GDS
TAGS: EFIS SL USSR
SUBJ: SIERRA LEONE/USSR FISHING AGREEMENT
REF: A) NICE 424, B) FREETOWN 2495
1. EMBASSY HAS OBTAINED A COPY OF SIERRA LEONE/USSR FISHING
AGREEMENT OF JULY 1976. THE FULL TEXT FOLLOWS:
2. BEGIN TEXT PROTOCOLE: NEGOTIATIONS WERE HELD ON THE 16TH
OF JULY, 1976, BETWEEN REPRESENTATIVES OF THE COMMERCIAL
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CORPORATION "SOVRYBFLOT" OF THE MINISTRY OF FISHERIES OF THE
USSR, HEREINAFTER REFERRED TO AS "SOVRYBFLOT", REPRESENTATIVES
OF THE JOINT SOVIET FRENCH FISHING COMPANY "FRANSOV", HERE-
INAFTER REFERRED TO AS "FRANSOV" AND AUTHORIZED REPRESENTATIVE
OF THE JOINT SIERRA FISHING COMPANY FOR MARKETING FISH PRODUCTS,
BEING ESTABLISHED IN SIERRA LEONE, HEREINAFTER REFERRED TO
AS "THE COMPANY".
IN FURTHERANCE OF THE PROTOCOLE DATED THE 11TH OF APRIL,
1976 SIGNED IN MOSCOW BY REPRESENTATIVES OF THE REPUBLIC
OF SIERRA LEONE AND THE MINISTRY OF THE FISHERIES OF THE
USSR REGARDING THE RENDERING OF SOVIET ASSISTANCE TO THE
SIERRA LEONE JOINT COMPANY FOR MARKETING FISH PRODUCTS,
REPRESENTATIVES OF SOVRYBFLOT, FRANSOV AND THE COMPANY AGREED
THAT FURTHER TO THE PROTOCOLE SIGNED ON 17TH OF JULY, 1976,
BETWEEN SOVRYBFLOT, FRANSOV AND THE NATIONAL DEVELOPMENT
BANK, SOVRYBFLOT SHALL PROVIDE VESSELS TO OPERATE IN SIERRA
LEONE WATERS ACCORDING TO PROVISIONS OF ARTICLE 2 OF THE
PROTOCOLE OF APRIL 11, 1976, REFERRED TO ABOVE.
UP TO 50 PERCENT OF THE CATCH OF THESE VESSELS SHALL BE
DELIVERED TO THE COMPANY ACCORDING TO ITS REQUIREMENTS FOR
THE SUPPLY OF THE LOCAL MARKET AT ANNUAL AGREED PRICES.
FOR THE TRAINING OF SPECIALISTS IN FISH CATCHING AND PROCESS-
ING, SOVRYBFLOT SHALL PROVIDE WORK FOR SIERRA LEONE CITIZENS
ON BOARD THE ABOVE MENTIONED VESSELS.
THE NUMBER OF SIERRA LEONE CITIZENS ON BOARD THESE VESSELS
SHALL NOT BE MORE THAN 20 PERCENT OF THE TOTAL NUMBER OF
THE CREW.
BY THE FIRST OF OCTOBER 1976 THE COMPANY SHALL HAVE ACQUIRED
SUITABLE LAND IN FREETOWN AND IN THE PROVINCES FOR THE
ERECTION OF THE COLDSTORE FACILITIES.
THIS PROTOCOLE WAS DONE IN MOSCOW ON JULY THE 17TH 1976,
IN THREE COPIES, EACH IN RUSSIAN AND ENGLISH, HAVING EQUAL
VALIDITY.
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NEGOTIATIONS WERE HELD ON THE 16TH OF JULY 1976 BETWEEN
REPRESENTATIVES OF SOVRYBFLOT, FRANSOV AND THE AUTHORIZED
REPRESENTATIVE OF THE NATIONAL DEVELOPMENT BANK OF SIERRA
LEONE HEREINAFTER REFERRED TO AS "THE BANK". REPRESENTATIVES
OF SOVRYBFLOT, FRANSOV AND THE BANK AGREED TO THE FOLLOWING:
ARTICLE I: 1. FRANSOV SHALL FINANCE THE CONSTRUCTION OF
THE COLD COMPLEX IN FREETOWN WITH A CAPACITY OF 1,000 TONS
INCLUDING FREEZING EQUIPMENT WITH CAPACITY OF ABOUT 10 TONS,
AN ICE-MAKING PLANT WITH A CAPACITY OF ABOUT 15 TONS PER DAY,
FIVE COLD STORES OF ABOUT 50 TONS CAPACITY EACH AND TWO
REFRIGERATED LORRIES OF 7 TONS CAPACITY EACH.
2. THE FINANCING SHALL BE IN THE FORM OF A LOAN TO THE BANK
FROM FRANSOV FOR 10 YEARS INCLUDING A PERIOD OF MOROTORIUM
TO BE AGREED UPON AND AT A RATE OF INTEREST ALSO TO BE AGREED
UPON.
ARTICLE II: FRANSOV SHALL SUBMIT TO SOVRYBFLOT AND THE BANK,
IN AUGUST 1976, TECHNICAL DOCUMENTATION AND ESTIMATES FOR THE
CONSTRUCTION OF VARIOUS TYPES OF COLDSTORES AND EQUIPMENT.
THE MOST APPROPRIATE VARIANT SHALL BE AGREED BY THE PARTNERS.
ARTICLE III: UPON RECEIPT OF COST ESTIMATES AND THE APPROVAL
OF FRANSOV FOR CREDIT, THE BANK SHALL SUBMIT TO SOVRYBFLOT
A SCHEDULE OF REPAYMENT OF THE LOAN FROM FRANSOV AS WELL AS
A PROJECTED CASH FLOW OF THE COMPANY.
ARTICLE IV: FRANSOV SHALL HAVE A FIRST LEGAL MORTGAGE ON ALL
ASSETS TO BE FINANCED AND SUPPLIED BY THEM DURING THE FULL
DURATION OF THE LOAN.
ARTICLE V: IN CASE OF NEED, SOVRYBFLOT SHALL RENDER ASSISTANCE
TO FRANSOV IN OBTAINING THE CREDIT MENTIONED IN THIS PROTOCOLE.
ARTICLE VI: IN CASE THE BANK FAILS TO REPAY THE CREDIT,
FRANSOV SHALL REIMBURSE SOVRYBFLOT FOR THE EXPENSES PERTAINING
TO SOVRYBFLOT'S OBLIGATIONS STIPULATED IN ARTICLE V OF THE
PRESENT PROTOCOLE.
THIS PROTOCOL WAS DONE IN MOSCOW ON JULY THE 17TH 1976 IN THREE
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COPIES EACH IN RUSSIAN AND ENGLISH HAVING EQUAL VALIDITY.
END TEXT
SAMUELS
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