The project is related to the Project No. 29058 which was disclosed on the IFC website on April 02, 2010. The originally disclosed project (or original project) consisted of the construction and operation on a Build Operate and Transfer (“BOT”) basis of a twenty-storey Class A commercial complex on a plot of land located in the gardens areas (or security zone) of Dar es Salaam, Tanzania. The BOT contract was between the Mwalimu Nyerere Foundation (“MNF” or the “Foundation”), who owned the land and CRJE Estate Limited (“CEL” or the “Project Company”) a fully owned subsidiary of China Railway Jianchang Engineering Company Limited (“CRJE” or the “Sponsor”), the largest construction company in Tanzania. The original plot of land was neighboring key government offices. Subsequent to IFC’s commitment in April 2010, the government imposed a height restriction on all buildings in the gardens areas and provided CEL with a building permit allowing construction of a six-storey building. The project was then put on hold and following negotiations with government, an alternative plot located in the Central Business District (CBD) of Dar es Salaam has been provided to the Foundation. The new plot is larger, located in a prime area of the CBD and has no height restriction.

Similar to the arrangement in the previous project, the Foundation, a Tanzanian nongovernmental organization, and CRJE have partnered on a BOT basis to undertake a revised project on the new plot. The revised project concept will involve construction of a thirty two-storey twin tower complex which will comprise a 250 room 5 Star hotel, an office and retail building and a 366 car parking bay (the “Project”).