RESTRICTED
FM BTC HONG KONG
TO PRIORITY
INTRA
TELNO INTRA 10
OF 20091OZ JANUARY 92
AND TO ROUTINE FCO
RESTRICTED
INFO ROUTINE PEKING, BTC HONG KONG
Mor Furness.
По
مرشدة
HKA 182/4
015026
MDLIAN 8130
21
M.22
2
FROM BTC AS CONSULATE GENERAL OF MACAU.
FOR ROBINSON, PEP 18.
HKA 182/3
YOUR INTRA 15 OF 10 JANUARY: MACAU AIRPORT.
1.
CAM HAVE CONFIRMED THAT THE TERMINAL/EQUIPMENT CONTRACT TENDER CLOSING DATE HAS BEEN EXTENDED TO 24 MARCH. THIS CONTRADICTS WHAT CAM'S CHAIRMAN, PROFESSOR PINTO, EARLIER TOLD GRAHAM, AND PROBABLY REFLECTS PRESSURE FROM OTHER BIDDERS, PROBABLY PORTUGUESE.
2. THE MACAU GOVERNMENT TOLD THE HONG KONG GOVERNOR LAST WEEK THAT THE PILING CONTRACT WOULD BE SIGNED WITHIN A WEEK. IT SEEMS THAT THE RUNWAY WORK HAS BEEN DIVIDED INTO TWO AND ACCORDING TO PRESS REPORTS THE FIRST CONTRACT WAS SIGNED ON SATURDAY 18 JANUARY WITH A CONSORTIUM HEADED BY CHINA HARBOUR OF THE PRC. THIS FOR LAND RECLAMATION AND DYKES FOR THE RUNWAY AREA, HAS A VALUE OF APPROXIMATELY 3 BILLION PATAKAS (OR 3 BN HKD). A SECOND CONTRACT FOR THE RUNWAY CONSTRUCTION WOULD BE SIGNED AFTER THE CHINESE NEW YEAR (FIRST WEEK OF FEBRUARY) AND WAS BEING NEGOTIATED WITH BALLAST NEEDHAM OF THE NETHERLANDS WHO ARE ULTIMATELY OWNED BY BRITISH AEROSPACE.
3. MACAU GOVERNMENT SOURCES HAVE ALSO SAID THAT THE COST OF THE ENTIRE PROJECT WOULD NOT EXCEED 6.5 BILLION PATACAS: THE FRANCHISE COMPANY WOULD TAKE UP CREDITS TOTALLING 3.2 BILLION PATACAS FROM INTERNATIONAL BANKING CONSORTIA. AN ADDITIONAL 2. 2 BILLION PATACAS WOULD BE CONTRIBUTED BY CAM, AND 1.1 BILLION WOULD COME FROM OPERATING PROFITS: THE COMPANY'S CAPITAL WOULD BE INCREASED IN MARCH FROM 1.5 BILLION PATACAS TO 2.2 BILLION: THERE WILL BE TWO CAPITAL CALLS, IN OCTOBER 1992 AND MARCH 1994: AIRPORT BONDS WILL BE ISSUED IN MARCH 1993 FOR 360 MILLION PATACAS WITH A TWO YEAR MATURITY. THIS SEEMS A REASONABLE AND ATTAINABLE PROGRAMME, AND IT APPEARS THE MACAU ADMINISTRATION ARE SUCCESSFULLY GETTING THE FINANCES IN PLACE. STANLEY HO,
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