WEDNESDAY, FEBRUARY 14, 1979
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GOVT GUARANTEE $56M MTR LOAN
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THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY) ADOPTED A MOTION SEEKING AUTHORITY FOR A GOVERNMENT GUARANTEE FOR A LOAN OF $56 MILLION FROM A BRITISH BANK FOR SIGNALLING EQUIPMENT FOR THE TSUEN WAN EXTENSION OF THE MASS TRANSIT RAILWAY.
MOVING THE MOTION, THE FINANCIAL SECRETARY, THE HON. PHILIP HADDON-CAVE SAID THE GUARANTEE WOULD BRING THE GOVERNMENT'S TOTAL GUARANTEE COMMITMENT IN RESPECT OF THE MASS TRANSIT RAILWAY CORPORATION TO $7,890 MILLION.
BUT MR. HADDON-CAVE POINTED OUT +NOT ALL THE FACILITIES COMPRISING THIS FIGURE WILL NECESSARILY BE DRAWN DOWN.+
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