XN000022-1975-01-22 — Page 8

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WEDNESDAY, JANUARY 22, 1975

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HOWEVER, MR. HADDON-CAVE SAID HE HAD GRAVE DOUBTS ABOUT THE LIKELY SUCCESS OF PURSUING THE CLAIM FOR COMPENSATION.

>ON THE OTHER HAND, I CAN ASSURE HONOURABLE MEMBERS THAT THE CONCERN OF THE HONG KONG GOVERNMENT ABOUT THE COURSE OF EVENTS IS WELL KNOWN TO THE RELEVANT JAPANESE AUTHORITIES,+ HE ADDED.

THE FINANCIAL SECRETARY ALSO OUTLINED THE SEQUENCE OF EVENTS ABOUT THE JAPANESE GROUP'S WITHDRAWAL FROM BUILDING THE RAILWAY.

IN CONCLUSION. HE REITERATED THAT IT REMAINED THE GOVERNMENT'S POLICY TO BUILD THE MASS TRANSIT SYSTEM FOR WE BELIEVE IT TO BE A VITAL NECESSITY FOR THE YEARS AHEAD.+

THE PROVISIONAL AUTHORITY HAD ALREADY INVITED INTERESTED PARTIES TO TENDER FOR CONSTRUCTION, EQUIPMENT, AND FINANCING OF THE MODIFIED INITIAL SYSTEM.

+WHEN TENDERS HAVE DEEN RECEIVED AND ANALYSED, THE PROVISIONAL AUTHORITY WILL REPORT BACK TO THE GOVERNOR IN COUNCIL AND I BELIEVE HE SHALL BE ABLE TO CONFIRM THAT THE MODIFIED INITIAL SYSTEM IS A FEASIBLE PROPOSITION, IN WHICH EVENT THE FIRST CONTRACTS WILL BE LET IN AUGUST.

*THE AIM IS TO COMPLETE CONSTRUCTION OF THE MODIFIED INITIAL SYSTEM AND TO HAVE IT FULLY OPERATIONAL BY MID-1980,+ MR. HADDON-CAVE SAID.

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