11
-
.2
It was agreed that GPC and CLP would each write a paper on the form of Joint Venture they had in mind and present them in the next meeting.
D.3
E.
E.1
E.2
Mr. Chen Gang confirmed that from preliminary negotiations with the Bank of China, it was found that RMB loans were not available for nuclear projects, but guarantee for foreign loans would be given.
Meeting No. 5 held on 22nd July, 1980 in Hong Kong.
In response to Sir Lawrence's request for assurance of GPC's wishes, Mr. Shih confirmed that GPC would welcome participation by CLP, the U.K. Government and its associates in the joint venture through a Hong Kong based Nuclear Investment Company. GPC expressed support for Sir Lawrence's forthcoming discussion with the U.K. Government on the joint venture.
The sharing of costs between GPC and CLP to be incurred by Site Investigation was discussed at the Management Group meeting on 2nd June. Agreement was reached between GPC and CLP that all costs on site investigation approved before hand by the Executive Committee should be shared equally between GPC and CLP. The investigation work had also been critically reviewed and the cost estimate was revised
649,000 Yuan RMB.
The Executive Committee was requested to approve the budget.
as
E.3
E.4
The Management Group requested for formal approval by the Executive Committee for a budget of 649,000 Yuan RMB for site investigation.
The budget was approved by the Executive Committee.
Mr.
arrangements
which
Shih approved in principle the proposed Messrs. Chen and Stones had worked out through discussions, namely:
(a) The equity ratio between GPC and HKNIC would be 60% and 40%
respectively.
(b) GPC agreed to the formation of the HKNIC by CLP and other Hong
Kong interests.
(c)
The Joint Company would be controlled by a board of directors the representation of which would be in accordance with equity shares. The chairman of the board would be appointed by GPC and the deputy chairman by the HKNIC.
chief
In the first five years after commissioning of the nuclear power station, the general
and manager
would engineer
be nominated by CLP and approved by GPC. In subsequent years, the general manager and chief engineer would be nominated by GPC and approved by CLP and the deputy general manager and deputy chief engineer nominated by CLP and approved by GPC.