ON
WEDNESDAY, MARCH 14, 1979
+BY THE BEGINNING OF 1982, THEREFORE, THE CAPACITY OF THE THEN AVAILABLE CREMATORIA WILL BE APPROXIMATELY 24,000, WITH A PROVISION FOR A FURTHER 8,000 CREMATIONS PER YEAR AS AND WHEN REQUIRED.
+THIS PROGRAMME WILL ENSURE THAT, ADEQUATE CREMATION FACILITIES WILL BE AVAILABLE THROUGHOUT THE 1980S. FURTHERMORE THE LOCATION OF CREMATORIA AT CAPE COLLINSON, DIAMOND HILL, TSUEN WAN, SHA TIN AND TUEN MUN WILL ENSURE A REASONABLE GEOGRAPHICAL SPRÉAD,+ MR. JONES ADDED.
GOVERNMENT GUARANTEES LOANS FOR MTR
******
THE FINANCIAL SECRETARY TODAY (WEDNESDAY) SOUGHT THE LEGISLATIVE COUNCIL'S APPROVAL FOR GOVERNMENT GUARANTEES FOR LOANS, EXPORT CREDITS AND A SUPPLIER CREDIT BY THE MASS TRANSIT RAILWAY CORPORATION FOR EXTENSION OF ITS RAILWAY TO TSUEN WAN.
IN MOVING THE MOTION, THE HON. PHILIP HADDON-CAVE SAID THE LOANS WILL BE FOR FIVE CONTRACTS. ALL ARE ON A FIXED PRICE BASIS.
TWO LOANS AMOUNTING TO US$111 MILLION ARE TO FINANCE CONTRACTS PLACED IN THE UNITED KINGDOM FOR 150 RAIL-CARS AND POWER SUPPLY EQUIPMENT.
+BUT THERE IS PROVISION FOR SWITCHING THE LOANS INTO HONG KONG DOLLARS AT ANY TIME DURING THE IR CURRENCY IN THE EVENT THAT HONG KONG DOLLARS BECOME AVAILABLE ON TERMS AND CONDITIONS ACCEPTABLE TO ALL PARTIES TO THE AGREEMENTS,+ HÊ SAID.
THE TWO EXPORT CREDITS, INVOLVING HK$127 MILLION, ARE TO FINANCE CONTRACTS PLACED IN FRANCE FOR ESCALATORS AND CIVIL WORKS IN RELATION TO KWAI HING AND KWAI FONG STATIONS AND STRUCTURES.
THE SUPPLIER CREDIT OF US$6 MILLION IS TO FINANCE A CONTRACT PLACED IN GERMANY FOR THE SUPPLY OF OVERHEAD CONDUCTORS.
+THE INTEREST RATES INVOLVED WILL BE COMPETITIVE AND AMOUNTS DUE IN RESPECT OF INTEREST WILL BE COVERED BY THE GUARANTEES, HE SAID.
THE FINANCIAL SECRETARY SAID THE GOVERNMENT'S TOTAL GUARANTEE COMMITMENT IN THE CORPORATION WILL BE HK$8,580 MILLION.
MOTION WAS APPROVED.
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