Kwong Wan Ltd., and Sir Elly Kadoorie Successors Ltd.,
The shareholders will severally guarantee the loan,
and the Tunnel Company will also be giving a floating
charge over the Company's assets.
"The tunnel will provide a much-needed traffic
link between Hong Kong island and the City of Kowloon,
a crossing which has up to now been served only by
vehicular ferries. The four-lane tunnel will be built
by the immersed tube method, the first to be built by
this technique in Asia and thought to be the longest
of its type in the world. The consulting engineers to
the project are the British firms of Scott and Wilson,
Kirkpatrick and Partners and Freeman, Fox and Partners
The press notice omits all mention of the waver
of guarantees.
to be publish
It would be most undesirable for there
discussion of the possible consequences
of action by the Chinese.In fact ECGD agreed to a
waver in the event of a Chinese take-over, using a
also
formula of words which conceded a temporary waver in
the event of what was described as "loss of effective
de facto control by the Government of the Colony".
4.
The successful outcome of these negotiations can Kaly probably be used to illustrate our confidence in the
future of Hong Kong.
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