XN000022-1983-03-11 — Page 2

FRIDAY, MARCH 11, 1983

GUANGDONG NUCLEAR POWER STATION CONSULTANCY ******

THE GOVERNMENT IS TO EMPLOY A FIRM OF MERCHANT BANKERS AS CONSULTANTS TO ADVISE IT ON THE FINANCIAL IMPLICATIONS OF THE PROPOSAL THAT HONG KONG SHOULD PURCHASE ELECTRICITY FROM THE PROPOSED NUCLEAR POWER STATION IN GUANGDONG PROVINCE.

A GOVERNMENT SPOKESMAN SAID THE FINANCE COMMITTEE OF THE LEGISLATIVE COUNCIL APPROVED THE NECESSARY FUNDS FOR THE CONSULTANCY ON WEDNESDAY (MARCH 9), AND A SUITABLE CONSULTANT WOULD BE SELECTED AND APPOINTED AS SOON AS POSSIBLE.

IN HIS OPENING ADDRESS TO THE LEGISLATIVE COUNCIL ON OCTOBER 6, THE GOVERNOR SAID THE GOVERNMENT HAD AGREED IN PRINCIPLE +TO HONG KONG TAKING POWER FROM CHINA PROVIDED THAT THE COST IS NO GREATER THAN IT WOULD BE IF WE PROVIDED THE NECESSARY FOSSIL FUEL BASED GENERATING PLANT IN HONG KONG,+

GOVERNMENT OFFICIALS WILL TAKE PART IN TALKS ON THE GUANGDONG NUCLEAR PROJECT NEXT WEEK BETWEEN THE UNITED KINGDOM DEPARTMENT OF INDUSTRY, CHINA LIGHT AND POWER COMPANY AND A DELEGATION FROM CHINA LED BY THE FIRST VICE MINISTER OF WATER CONSERVANCY AND ELECTRIC POWER IN BEIJING, MR LI PENG.

THE MERCHANT BANKERS WHO ARE TO BE APPOINTED AS CONSULTANTS WILL BE REQUIRED TO IDENTIFY AND PROVIDE ADVICE ON THE FINANCIAL IMPLICATIONS OF ANY PROPOSALS THAT MAY BE MADE IN REGARD TO THE NUCLEAR PROJECT AFFECTING THE GOVERNMENT'S RESPONSIBILITIES AND INTERESTS. THIS WILL ASSIST THE GOVERNMENT TO TAKE DECISIONS OF A FINANCIAL AND/OR ECONOMIC NATURE ON THE PROPOSALS REQUIRING A GOVERNMENT RESPONSE.

NOTE TO EDITORS:

GOVERNOR RETURNING FROM LONDON

***

THE GOVERNOR, SIR EDWARD YOUDE, WILL RETURN FROM LONDON ON FLIGHT CX 200, E.T.A. 9.15 AM TOMORROW (SATURDAY).

THERE WILL BE A FACILITY FOR PRESS PHOTOGRAPHERS AND CAMERAMEN TO COVER HIS RETURN. PLEASE ADVISE THOSE ASSIGNED BY YOU TO COVER THE EVENT TO ASSEMBLE IN THE PRESS CONFERENCE ROOM ON THE GROUND FLOOR OF THE AIRPORT TERMINAL NOT LATER THAN 8.15 AM.

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