fir & the
12
No estimate for the capital cost
2
nodro
is less than £1000m, the work would take six or seven years to complete
(i.e, it would not generate any income until 1986/7) and the only sites avail-
able all lie in the . The sort of loan-package that would be required to
finance it from Western banking consortia would require a minimum of around
30 years repayment period: in addition, the hard-eyed lawyers of the IF,
Asian Development Bank or any private funding consortium would require that
was
for the reparan
payment period guaranteed in writing.
the leasehold
I.E. The bankers would want to see title to Lando
a
Lease-, valid through to the end of the loan-period. Such requirements ave quinte inflexible lose their own position if they ignored them
але
& bankers would
'It would be hopeless to expect tu
A
them to respond to any plea that was based on saying, well, we have this sort› of unofficial understanding with Peking that everything will be OK after 1997, although they can't actually say so, and you mustn't embarrass them by asking,
but just trust us....|
They would reply "you want a 30-year Loan? well - you gotta have 30 year title to the land
otter wise, forget it.
и
1
7