RESTRICTED
FM BANGKOK
TO ROUTINE DTI
TELNO OTTER 170
OF 08033OZ NOVEMBER 91
RESTRICTED
HKB 182/3.
INFO ROUTINE FCO BTC HONG KONG AND ECGD
FOR:
PEP AND OT2
(126
129
1.9.
W
BTC HONG KONG TELNO 204 TO YOU: HOPEWELL RAILWAY PROJECT 1. EXPECTED FUDGE HAS OCCURRED THAI CABINET AGREED ON 5 NOVEMBER TO ONE MONTH EXTENSION OF 8 NOVEMBER DEADLINE BY WHICH HOPEWELL SHOULD HAVE DECIDED TO GO AHEAD WITH PROJECT. MAJOR OUTSTANDING ISSUE IS HOPEWELL REQUEST FOR EXEMPTION FROM WITHOLDING TAX ON FOREIGN LOANS. PRESSURE ON MR WU IS ALSO INCREASING AS BANGKOK LAND PRICES ARE CURRENTLY DECREASING: PROPERTY DEVELOPMENT ASPECT OF
PROJECT IS NOW NOT QUITE AS ATTRACTIVE AS LAST YEAR. 2. THERE HAS BEEN SOME SPECULATION HERE, PRINCIPALLY BY NUKUL, MINISTER OF TRANSPORT AND COMMUNICATION THAT STATE RAILWAYS OF THAILAND MAY UNDERTAKE PROJECT ITSELF. NOTWITHSTANDING CONTINUING OPPOSITION TO THE HOPEWELL SCHEME, BANGKOK'S TRAFFIC WOES ARE CLEARLY ATTRACTING INCREASED CRITICISM AND CALLS FOR CURRENT GOVERNMENT TO IMPLEMENT PROJECTS TO RELIEVE PROBLEM.
MELHUISH
145655
MDLIAN 2648
Wni
15
Garden wir jet
моја
YYYY
ΜΑΙΝ
6
NO DISTRIBUTION
PEP, DTI
OT2, DTI
HKD
NNNN
DISTRIBUTION
JOINT DIRECTORATE ERD
ECGD
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