TNAG-0424-FCO40-470-Construction-of-an-underground-railway-system-in-Hong-Kong-1973 — Page 254

0003160 G.F. 316

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19

6

(j) The figure for Market finance is a residual figure and

represents the system's need for market finance.

The distribution of expenditure and income between years has been determined in relation to the payment terms and completion dates indicated by Intermetro.

20

The exchange rate used for the purposes of the cash-flow table, i.e. HK$1 = Lire 112.93, was the selling rate for lire quoted by the note-issuing banks at the opening of business on 3rd July 1973.

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