TNAG-0423-FCO40-469-Construction-of-an-underground-railway-system-in-Hong-Kong-1973 — Page 202

EN CLAIR GPS 402

FM HONG KONG

UNCLASSIFIED

гор

сору

TO ROUTINE E.C.G.D. TELNO EXCED 21 OF 30 MARCH 1973

PA

FOR COTTERILL FROM ASTON

REPEATED SEPARATELY TO D T I FOR WATSON (O P G) AND

MISS WELCH (CRE 2) AND TO F C O FOR STUART CHK10D)

AND FINLAYSON CE P D)

MY UNNUMBERED EXCED OF 29 MARCH

30/11

M.T.SA F G CONSORTIUM

FOLLOWING FURTHER INFORMATION OBTAINED FROM BUCKLER AT CONCLUSION OF A F G DISCUSSIONS THIS AFTERNOON. POINT WORRYING THE HONG KONG AUTHORITIES ABOUT THE A F G CONSORTIUM APPEARS TO HAVE BEEN PROBLEM CF PROVISION OF FINANCE IN 3 DIFFERENT CURRENCIES AND HOW THE

3 CREDIT AUTHORITIES WOULD PARCEL IT OUT. BUT SEPARATE MEETING WITH SANDBERG TODAY APPARENTLY LARGELY DISPELLED THIS CONCERN. IT HAS BEEN LEFT THAT THE BANKERS BETWEEN THEM AND IN CONSULTATION

WITH THE 3 CREDIT AUTHORITIES WILL WORK THIS OUT NEXT WEEK.

2.

BUCKLER TOLD THE OTHER MEMBERS OF THE CONSORTIUM AND ALSO

HONG KONG AUTHORITIES THAT GKN HAD ALREADY HAD DISCUSSIONS WITH EC G D AND HAD BEEN ASSURED THAT PROVIDED THAT THERE IS AT LEAST POUNDS STERLING 10 MILLION EXPORT CONTENT FOR UK IN THE ORDER E C G D WILL GIVE THE SAME COVER AS IS BEING OFFERED TO THE

BRITISH GROUP.

13.