4000091 P.R F
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HONG KONG GOVERNMENT
INFORMATION SERVICES
DAILY INFORMATION BULLETIN
Saturday, March 29, 1969
121
Dr. Rt to the thash.
·
GOVERNMENT PREPARED TO TAKE UP OPTION
ON CROSS-HARBOUR TUNNEL PROJECT
Government has informed the Cross-Harbour Tunnel Company Limited
today (Saturday) that it is prepared to subscribe 25 per cent of the
Company's share capital up to a maximum of HK$27.5 million and to givo (with other shareholders) a counter-guarantee of its proportionate share
of a British bank loan of approximately £12.5 million to be guarantood by
the Export Credit Guarantee Department.
Government's agreement is conditional on the formal approval of
tho Legislative Council, on the satisfactory settlement of certain outstanding
mattors still the subject of negotiation between the Company, the Export
Credit Guarantee Department and proposed contractors, the Costain Consortium, and on the completion of the Company's other financial arrangemonts.
1
O
RECEIVED IN REGISTRY No.51 -1 MAY 1969
HIKIL 21,
21/$
1
12 .....
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