Richard Allen Esq Chief Executive Officer Provisional Airport Authority
25/F Central Plaza
18 Harbour Road
Wanchai
Bank of America Tower 18 Harcourt Road Central Hong Kong
Tel No: 523 0176 Fax No: 845 2870
30 July 1992
sar Richard.
In response to your letter of 27 July 1992 to Mr Needham (who is still travelling), I have been instructed to reply on behalf
I have been asked of the interested departments in London.
particularly to stress that ECGD stand ready to enter immediately into discussions with any successful British bidder with a view to reaching early agreement on a conditional commitment.
ECGD are in no doubt whatever about the importance of PADS to
They have made this clear in the the future of Hong Kong. substantial indications of support they have given UK applicants for cover for important airport contracts (eg the
Equally, Tsing Ma Bridge and the North Lantau Expressway). ECGD and the DTI are well aware of the critical importance of the site preparation contract to the project as a whole and that it is the largest contract which the PAA (as distinct from other Hong Kong authorities) will award.
On the other hand, I am sure you will for your part understand the constraints within which ECGD have to operate and which have been explained in detail to Mr Dundas, your Finance Director. This means, in particular, that it would not be sensible for ECGD to commit finite resources to a contract which may not be let for some time, before we know with any certainty what level of support will be required.
I think you have already acknowledged that support for the platform contract must depend, inter alia, on a satisfactory
ECGD has made it clear that it will security structure.
examine the financing plan when it is made available.