5.
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4.3 Finance
KBC advised the following typical breakdown costs for a 2x900 MW muclear:
··"power station :
US$m
Equipment & Design
1200
Consultants, Spares
200
Civil Work Installation
400
200
Total
2000
These costs included land and freight costs but excluded price variations and interest during construction..
Mr. Bischoff advised that export credit at subsidised rates in excess of 85% (up to 100%) of the total equipment cost could be negotiated from the country which supplied the equipment. Loans for civil work and installation could also be made available if foreign materials were used or foreign consultants/technicians were employed. Interest rate and repay period of 74% per annum and 8 years (or longer) respectively were typical for nuclear projects. Endeavour should be made to capitalise the interest during construction so that no payment would be required during construction.
CLP stated that whilst CLP was in a good position to negotiate loans and obtain Government assistance from U.K., neutrality would be maintained.
The detailed financial aspects would be considered by the Working Committee.
Nuclear Power Station Site
Sir Lawrence's comments on power station siting were given on page 20 of the Agenda.
The subject was discussed and it was agreed that the selection of nuclear power station site should be based on international and Chinese safety standards. Both KEC and CLP would participate in the study and share the costs. Expenses incurred within China would be borne by KEC in advance. If the project substantiated, the cost would go into the equity shares. Should the project fail to substantiate, the costs would be shared equally.
KEC undertook to provide CLP with information on the following for site investigation earthquake, soil mechanics, watertable, weather conditions and typhoons.
CLP undertook to provide KEC with information on the following:
(i)
International regulations on safety of nuclear power station, U.K. environmental laws pertaining to siting of nuclear power station.