UNCLASSIFIED
056320
MDLIAN 5817
THE BALFOUR BEATTY LED CONSORTIUM IS THE ONLY ONE OF THE SIX CONSORTIA SUBMITTING BIDS WHICH HAS A BRITISH INVOLVEMENT. THE CONTRACT IS ESTIMATED TO BE WORTH ABOUT GBP125 MILLION. THE CONTRACT WILL PROBABLY BE AWARDED IN EARLY 1993. BALFOUR KILPATRICK ARE BIDDING SEPARATELY FOR THE RELATED ELECTRICAL AND MECHANICAL EQUIPMENT CONTRACT.
COMMENT
5. THE STOCK EXCHANGE HAS SEEN MINOR FLUCTUATIONS THIS WEEK BUT REMAINS CLOSE TO ITS ALL TIME HIGH FOR THIS YEAR. HONG KONG GOVERNMENT HAS JUST ANNOUNCED THAT IT IS COMMITTED TO SPENDING ABOUT GBP6.5 BILLION ON CAPITAL WORKS PROJECTS, EXCLUDING THOSE RELATED TO THE AIRPORT CORE PROGRAMME, IN THE 5 YEARS TO 1997. THIS IS 42 PERCENT MORE THAN TOTAL EXPENDITURE ON CAPITAL WORKS IN THE PAST 5 YEARS. THIS AMBITIOUS PROGRAMME SERVES TO BOLSTER
CONFIDENCE IN THE ECONOMY.
DAY
YYYY
ΜΑΙΝ
63
DISTRIBUTION
73
.HK POLICY
HKD
PUSD
FED
LEGAL ADVISERS//MS BARRETT
.AND MS BROOKS
NEWS D
PLANNERS
RAD
PS
PS/MR GOODLAD
SIR J COLES MR APPLEYARD
MR HUM
ADDITIONAL
10
CAOFF//SIR R BRAITHWAITE
CAOFF//MISS NEVILLE-JONES
CAOFF//MR SIBSON CAOFF//MS D CORNER
CAOFF //MR CHARLTON
.DTI//VICTORIA ST
PS/PM
NNNN
PAGE
2
UNCLASSIFIED