CONFIDENTIAL
HKB 182/3
Mr Cox
+ PA.
175
075154
MDLIAN 0832
CONFIDENTIAL
FM BTC HONG KONG TO PRIORITY DTI
TELNO OTTER 231
OF 10110OZ DECEMBER 91
AND TO PRIORITY FCO
INFO PRIORITY ECGD, PEKING, MANILA, BANGKOK
?
MY TELNO OTTER 170: GORDON WU AND PROJECTS
SUMMARY
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Plan
1. A RANGE OF MAJOR PROJECTS FROM GORDON WU'S COMPANY, HOPEWELL, APPEAR LIKELY TO GET A START SOON. SOME VERY LARGE ORDERS INDEED ARE IN PROSPECT FOR BRITISH COMPANIES, PRIMARILY GEC ALSTHOM, STARTING WITH A POSSIBLE POUNDS STR 200 MILLION TURBINE ORDER BEFORE CHRISTMAS. THE CHANCES FOR BRITISH INDUSTRY ARE QUITE ENORMOUS.
DETAIL
2.
AT A MEETING WITH GORDON WU ON 10 DECEMBER HE UPDATED ME ON HIS VARIOUS PROJECTS. HE IS REACHING A CRITICAL POINT ON SEVERAL. BRITISH COMPANIES, PARTICULARLY GEC ALSTHOM, COULD WIN ORDERS OF MORE THAN A BILLION POUNDS BUT STRONG EFFORTS WILL BE NEEDED.
(A)
SHAJIAO C POWER STATION
3. NEGOTIATIONS ON THIS PROJECT WHICH WILL REQUIRE 2 X 660 KW UNITS ARE NEARING CONCLUSION. THE SITE IS SOME 50 KM FROM HONG KONG, ALONG-SIDE SHAJIAO B AT THE APEX OF THE PEARL RIVER ESTUARY. HOPEWELL WOULD HOPE TO BRING THE STATION ON STREAM FOR THE END OF 1994. GORDON WU HOPES TO COMPLETE NEGOTIATIONS BEFORE CHRISTMAS. MEETINGS ARE TAKING PLACE IN GUANGDONG NEXT WEEK. THE MAJOR DECISIONS ARE BEING TAKEN BY A COMMITTEE CONSISTING OF GORDON WU AND EDDIE HO (FINANCE DIRECTOR) FOR HOPEWELL AND THE NUMBER ONE AND NUMBER TWO OF GUANGDONG POWER COMPANY. THE GUANGDONG POWER AUTHORITY HAS A 60 PER CENT STAKE AND WILL PUT UP USD 300 MILLION. IT IS, GORDON WU SAYS, THE RICHEST COMPANY IN GUANGDONG. IN ADDITION, HE SAYS, THE PROVINCE HAS BEEN EAR-MARKED INCOME FROM WATER SUPPLIES TO HONG KONG FOR USE FOR THIS PROJECT. HOPEWELL, GORDON WU'S COMPANY IN WHICH HE HAS A 40 PER CENT PERSONAL STAKE, WILL PUT UP USD 200 MILLION. THE REMAINING USD
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