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Answers to Possible Supplementary Questions
1.
Noto for Luffeleminone
The Hong Kong Government is prepared in principle to subscribe 25% of the Company's shareholding subject to the formal approval of the Legislative Council
of the Colony.
2.
The shareholders (including the Hong Kong Government subject to the approval of Legislative Council) will guarantee repayment of the loan in proportion to their
shareholdings."
3. It is true that a French Finance House at the end of 1968 offered to finance this project but in the event their terms do not seem to have been as acceptable
to the Tunnel Company as the British terms.
4.
The Exports Credit Guarantee Department is prepared in principle to cover e which represents
loan for 75% of the Contract Value up to a maximum of £14,000,000 repayable over
7 years from completion of the tunnel.
5.
The E.C.G.D. support is being provided in accordance with that Department's
normal underwriting criteria.
6. The loan and contractual arrangements are entirely commercial.
Disclosure
the
of detailed arrangements might prejudice the outcome of the negotiations which are
still in progress.
7. The tunnel will provide a much needed traffic link between Hong Kong Island
and the City of Kowloon, a crossing which up to now has been served only by
vehicular ferries.
8.
The Consulting Engineers to the project are the British Firms of Scott and
Wilson,
Kirk Patrick & Partners and Freeman Fox & Partners.