do not think this necessarily means that Hong Kong would not contemplate the earlier amortization (say seven or eight years after completion) of any loan finance we may be
able to make available.
4.
The bare bones of the project (paragraph
3 of the enclosure) are set out below :
Million
(ii)
(i) Runway extension
Extension of terminal apron parking area: taxiway modification
£ 6.08
£1.65
(iii) Terminal building
expansion
(iv) New air-cargo complex
£ 2.56
£ 2.75
(v)
Improvement of ATC system £ 0.66
£13.70
With the help of the Aviation Division of the
Board of Trade we have arrived at a rough rule
of thumb assessment of £6.2 million as the British export content (in terms of "hardware")
of the entire project: this is made up as
follows :-
Percentage
Value
British content
Million
Runway
40%
£
2.4
Apron and taxiway
25%
£
.4
Terminal building
60%
£ 1.5
expansion
New air-cargo
50%
£ 1.4
complex
Improvement of
70%
£ 0.5
ATC system
£ 6.2
Overall average British content 45%
This estimate is based on experience of
comparable projects elsewhere. There must be some reservations about this figure. We
have not had access to consultants reports. We know that (i) and (ii) were the subject of a report by Messrs. Scott, Wilson and
Kirkpatrick who have told us that their
/ estimates
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