G.F. 316
SECRET 高度機密
DRAFT
ANNEX E
:
Statement by the Mass Transit Railway
Provisional Authority
(to be issued in the event of the
Governor in Council accepting the Consortium's offer of compensation and subject to agreement with the Japanese Consortium through their agents,
Jardine, Matheson and Company Limited. Embargoed until
Executive Council has met on
14th January 1975)
Japanese Consortium withdraws from negotiations
The Japanese Consortium
has informed the Mass Transit Railway
Provisional Authority that it is unable
to continue negotiating a contract to
build, equip and finance the first
four stages of the Mass Transit Railway
within the context of the Letter of
Intent signed on 15th February 1974.
The Consortium has given,
2.
as its reason for deciding to withdraw
from the negotiations, the difficulties
experienced by the Japanese economy as
a result of the oil crisis in late
1973 and 1974. The Consortium claims
that the magnitude of these difficulties
could not have been reasonably foreseen
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