CONFIDENTIAL
THE KEY DATES FOR PROJECTS REQUIRING DECISIONS THIS
FINANCIAL YEAR ARE:
(a) Trafalgar House have asked for an indication of
ECGD cover for their Anglo-Japanese Consortium's bid for the Lantau Fixed Crossing by 15 November. (ECGD wrote
to EGC about this on 28 October.) A few days' slippage is no doubt manageable, but anything more would cause serious difficulty, as they need to discuss and agree financing arrangements with their Japanese partners in time to submit their tender on 16 December (the
deadline). The Hong Kong Government have made clear that
they are likely to give preference to tenders which include attractive financing proposals. If successful,
the Anglo-Japanese Consortium would seek an ECGD commitment either at the end of this financial year or at
the beginning of next.
(b)
Tenders for the next main project, the airport platform/site preparation (total value c £550 million), are due to be submitted in February 1992, and again
indications of ECGD cover will be needed beforehand:
Trafalgar House and Costain lead one of the six consortia
which have prequalified, Balfour Beatty a second and
Mowlem are part of a third.
(c)
An indication for the Black Point power station may
also be required before the end of March 1992.
SG4AEM
CONFIDENTIAL