GR 325
PRIORITY
CYPHER CAT A
FM BTC HONG KONG 090906Z
HKKI
MAD 1978
40.31
INDEX
مله
TAY Taken
- SAS
23
UNCLASSIFIED
COMMERCIAL IN CONFIDENCE
See Part
TO PRIORITY E C G D TELNO EXCED 9 OF 9 MARCH 1978
INFO PRIORITY DO T (FOR PERM SEC., CRE4 AND OPG), MANILA (FOR
BUCKLEY PS TO HRH THE DUKE OF KENT), KUALA LUMPUR (FOR WILKS),
F.C.O.
FOR BIRCH.
YOUR EXCED 8 OF 3 MARCH.
FOLLOWING IS TEXT OF PRESS RELEASE TO BE ISSUED BY MASS TRANSIT
RAILWAY CORPORATION TOMORROW 10 MARCH.
BEGINS
THE MASS TRANSIT RAILWAY CORPORATION ANNOUNCED TODAY THAT IT IS
TAKING UP A TWO-YEAR OLD OPTION WITH THE BRITISH FIRM, METRO- CAMMELL, FOR 70 ADDITIONAL CARS.
THIS OPTION WAS NEGOTIATED WHEN THE MTR PLACED ITS ORIGINAL ORDER FOR 140 CARS FOR THE MODIFIED INITIAL SYSTEM IN 1976, AND WILL ALLOW FOUR-CAR TRAINS WHEN DELIVERY OF THE ADDITIONAL
CARS IS COMPLETED BEFORE 1982.
ANNOUNCING THAT THE CORPORATION IS TAKING UP ITS OPTION WITH METRO-CAMMELL, AN MTR SPOKESMAN SAID THAT IT HAD BEEN NEGOTIATED ON A FIXED-PRICE BASIS PAYABLE IN HONG KONG DOLLARS, AND THAT DISCOUNTS HAD BEEN AGREED WITH METRO-CAMMELL.
'FAVOURABLE FINANCIAL TERMS SUPPORTED BY THE BRITISH EXPORT CREDITS GUARANTEE DEPARTMENT WILL ENABLE THE CORPORATION TO PAY
FOR THE CARS IN HONG KONG DOLLARS, THE CURRENCY IN WHICH THE CORPORATION WILL BE EARNING ITS REVENUE WHEN THE RAILWAY BEGINS OPERATIONS NEXT YEAR,' SAID THE SPOKESMAN.
/IT IS THE