L
Addressed to:
DRAFT
Rt Hon Anthony Barber TD MP Chancellor of the Exchequer Treasury Chambers LONDON SW1
File No.
Copies to:
The Prime Minister
Other Members of EPC
Sir Burke Trend
Enclosures:
Originated by:
(Initials and date)
B.ME.
6./9.
Seen by:
(Initials and date)
Buy 117-
Type for signature of
DEPARTMENT OF TRADE AND INDUSTRY
HONG KONG MASS TRANSIT SYSTEM
You will recall the correspondence last September about
our opening bid in the negotiations for the major contract
for the Hong Kong Underground Railway project. John Davies'
letter to you dated 25 September covered a paper by
officials describing the outstanding importance of the
project to Britain.
The negotiations on the credit terms necessary have now
reached a crucial stage. The Hong Kong Government
Steering Committee will next week evaluate the bids and
recommend which groups or consortia go forward to the final
round.
It is touch and go whether the British group will
be selected. Our information is that at least two of our
competitors are offering terms substantially better than
those of the British group. The main differences are the
dates of repayment of principal and capitalisation of
We have promised to let the Hong Kong
interest.
Form SS/29
Secretary of State
(Initials and date)
DO NOT TYPE ON REVERSE USE A CONTINUATION SHEET 10283/1635L. D.216882 30M 12/72 T.P. Gp.658
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