25
(ix)
(x)
in
ΤΟ
For
The amount of
Electricity generated by GNPC will be sold to GPC and CLP in the ratio of
electricity 60% and 40% respectively. payments to GNPC, CLP will pay in Hong Kong currency and GPC will use RMB supplemented by foreign exchange. foreign exchange to be used by GPC would depend on foreign
balance
ensure GPC will currency
the GNPC account.
the GNPC foreign have sufficient foreign exchange to meet
it balance requirement, currency
has been agreed that GPC will resell one-third to one-half of its electricity share to CLP at a price equivalent to the GNPC price plus a fixed percentage to be determined before signing of the contract. to sell this In order
and for GPC to purchase
would have
be electricity,
to price
financially
attractive to both Companies.
for
CLP
the
the
shall
GPC/HKNIC joint venture
of the
loans
The contract period of start from the effective date of the joint venture contract and shall terminate 20 years after the commissioning
start after all second unit. Decapitalisation shall are repaid by the joint company and shall be completed by the
of end
period. document consideration contract ownership of the assets after this period.
the
contract
During
will be
preparation
given
of
to
the
the
(xi)
GNPC, detailed
after
shall its establishment, engineering
immediately carry out
appertaining
to the new
studies and financial
power station.
investigations
Other
precontract
and financial loans
should be the
considerations such as site conditions, plant arrangements of detailed
subjects
studies before award of contracts.
(xii)
(xiii)
The project management team will consist of GPC & CLP staff and also staff from the consultants employed by the joint and CLP shall investigate the GPC venture company. desirability of establishing a Project Management Company to undertake the engineering, construction and management of the nuclear power station.
GPC and CLP shall, after the acceptance of the feasibility study report, start discussion on the joint venture contract, sales for contract
sharing of electricity, electricity (GPC to CLP) and Articles of Association for the establishment of GNPC and Project Management Company.
agreement