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Wednesday, August 23, 1972
At the beginning of this month an agreement was signed with
the Asian Development Bank to finance a substantial portion of the
plant by a loan of US$21.5 million (equivalent to some HK$120 million)
which would be repayable in 10 years from 1976.
The final award of the contract is therefore subject to
the Bank's approval, which is expected shortly.
A total of seven tenders were submitted by tenderers from
five countries. These had previously prequalified on the basis of their
capability in handling international contracts of similar magnitude, and
their experience in the field of desalting engineering.
Sasakura's tender was chosen because it was the lowest tender
in terms of both capital and operating costs. It also complied in all
respects with the specifications and conuitions of contract.
To ensure that the target completion date is met, failing which
the risk of supply restrictions by 1974 would be greatly increased, a
fairly tight programme has been followed right from the beginning of
the project.
This necessitated a tender period of only 12 weeks being allowed.
But to enable prospective tenderers to proceed with their design work
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before actual tenders were called on May 8, 1972, advance information
on the principal plant parameters was sent to all tenderers while the specification
and contract documents were being finalised.
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