TNAG-0423-FCO40-469-Construction-of-an-underground-railway-system-in-Hong-Kong-1973 — Page 89

PACE TWO

ALL THESE FIGURES ARE SUBJECT TO ADJUSTMENT WITHIN A

BRACKET PLUS TWENTY-TWO PERCENT AND MINUS SIXTEEN PERCENT

WHEN THE DETAILED SPECIFICATIONS AND ENVIRONMENT ARE KNOWN.

2. IT WILL THEN BE A FIXED PRICE CONTRACT IN U.S. DOLLARS

WITH NO ESCALATION.

3.

JAPANESE HAVE NOT GIVEN BREAKDOWN BETWEEN CIVIL AND M.

AND E. OP ANY DETAILS OF HOW FIGURES ARRIVED AT.

4. THEY UNDERTAKE TO COMPLETE WHOLE OF FIRST FOUR STAGES IN

FIVE YEARS FROM START.

5. CREDIT TERMS ARE SIX AND ONE HALF PERCENT (APPROX.), NINETEEN YEARS REPAYMENT, WITH CAPITALISATION OF INTEREST WHICH WOULD NOT BECOME PAYABLE UNTIL THE FOUR STAGES COMPLETED. DETAILS OF OFFSHORE FLEMENT NOT GIVEN PUT APPARENTLY HAVE FIXED A FIGURE OF U.S. DOLLARS 600 MILLION (APPROX.) AS

THE OFFSHORE ELEMENT IN ANY OF THE ABOVE THREE SCHEMES.

HAVE APPARENTLY MODIFIED THEIR ORIGINAL APPROACH - 1.F. A

LOAN AND A FORM OF GUARANTEE - AND ARE NOW ON VIRTUALLY THE

SAME BASIS AS BRITISH GROUP.

THEY

15.