HOFO#28/13
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FM HONG KONG 138652Z
CONFIDENTIAL
NO DISTRIBUTION
RECEIVED 1: REGISTRY No. 01
14FEB1974
WICH:20/2
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TO PRIORITY F C O TELNO 199 OF 13TH FEBRUARY, 1974. INFO PRIORITY
HONG KONG GOVERNMENT OFFICE LONDON,
FOR STUART FROM HADDON-CAVE.
MY TELNO 198 (NOT REPEATED).
The Bitish hid besan with
is bang and endo with a
split infinitive.
13/
PRESS STATEMENT TO BE RELEASED AT 19000 HOURS THURSDAY.
TEXT AS FOLLOWS:
LAST
REF.
20
LETTER OF INTENT FOR MASS TRANSIT CONTRACT
TO BE SIGNED TOMORROW.
NEXT
KEF.
A LETTER OF INTENT TO NEGOTIATE A CONTRACT FOR THE CONSTRUCTION
AND EQUIPMENT OF THE FIRST FOUR STAGES OF THE MASS TRANSIT RAILWAY
WILL BE SIGNED BY MR HADDON-CAVE, FINANCIAL SECRETARY AND CHAIRMAN OF THE MASS TRANSIT STEERING GROUP, AND ISSUED TO THE JAPANESE
CONSORTIUM TO-MORROW MORNING.
ANNOUNCING THIS TODAY, A GOVERNMENT SPOKESMAN EXPLAINED THAT,
SINCE THE DECISION MADE BY THE GOVERNMENT ON 11TH DECEMBER 1973
TO SEEK NEGOTIATIONS WITH THE JAPANESE CONSORTIUM FOR THE CONCLUSION
OF A CONTRACT, THE MASS TRANSIT STEERING GROUP HAD HELD FIVE FORMAL MEETINGS WITH REPRESENTATIVES OF THE CONSORTIUM TO DISCUSS
MATTERS PERTAINING TO THE LETTER OF INTENT. ALTHOUGH THESE MEETINGS HAVE BEEN SPREAD OVER A PERIOD OF TWO MONTHS,'' HE SAID, ''THE DISCUSSIONS, WHICH WERE HELD IN A CORDIAL ATMOSPHERE, HAD PROCEEDED STEADILY AND IN A BUSINESSLIKE MANNER, WITH BOTH SIDES DEMONSTRATING GOOD FAITH AND AFFIRMING THEIR INTENTION TO SUCCESS-
FULLY CONCLUDE A CONTRACT''. HE ADDED THAT **THE LETTER OF INTENT, WHICH ENSHRINĖS GOVERNMENT'S STATED REQUIREMENTS AND ESTABLISHES THE TERMS WITHIN WHICH THE FORMAL CONTRACT WILL BE NEGOTIATED, IS A KEY STAGE IN PROGRESS TOWARDS THE BUILDING OF THE MASS TRANSIT RAILWAY AND MARKS THE PENULTIMATE STEP IN THE LONG SEQUENCE OF EVENTS TOWARDS SELECTING A CONTRACTOR FOR THE SCHEME AND CONCLUDING A CONTRACT.''
THE JAPANESE CONSORTIUM IS LED BY THE MITSUBISSHI CORPORATION, WITH MESSRS JARDINE, MATHESON AND COMPANY LIMITED AS THEIR LOCAL REPRESENTATIVES, MR. H. SAKAMAKI, MANAGING DIRECTOR OF MITSUBISHI CORPORATION, WILL BE COMING FROM TOKYO TO RECEIVE THE LETTER OR INTENT FROM THE FINANCIAL SECRETARY.
THE PRESS ARE INVITED TO ATTEND THE SIGNING CEREMONY WHICH WILL BE HELD TO-MORROW IN THE RECEPTION LOUNGE, 1ST FLOOR, EAST WING, COLONAIL SECRRETARIAT AT 12:30 P.M.
FCO PASS PRI
PRIORITY
TY TO HONG KONG GOVERNMENT OFFICE LONDON.
MACLEHOSE
NNNN
SENT AT 07392/13 EJH
[Copy fared to HK
Love Effice].