CONFIDENTIAL
56 As to guarantees, I have never been very clear as to E.C.G.D.'s exact requirements. I should be grateful if I could be informed, in the light of my proposals that this Government' share of the Equity be increased, that the total Equity be increased by $12 million and that part of the royalty be deferred during the years of loan repayment, exactly what, if any guarantee E.C.G.D. would require, both as to amount and the contingencies to be covered by it. In this connexion, I trust that the considerations advanced in my telegram No.833 will be given due weight.
6. Time is very short and I propose to put these suggestions to Executive Council at its meeting on 11 July and to consult Finance Committee on 12 July. I should be very grateful if I might receive some reasonably firm indication of H.M.G.'s views in time for the former meeting.
7.
Apart from the political importance of this project at this time, one factor that might be borne in mind is that, were Costains to be awarded this contract which would in itself be a considerable boost to British engineering prestige, they would be in a very favourable position to secure the contract for the extension of the airport runway as well.
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