es Boothroyd
Treasury
Crest George Street London S.1
CONFIDIAMTAT
4KK2114
ext 5067
12 November 1973
(2700
HONG KONG HASE TRACIE STORM
At our meeting this morning you askol if I could let you have a note about the strength of the national interest case for offering for part of the cohene the came Government credit backing as we were propared to roodumond chouli the whole of the contract come the way of UK firmo As we pac it, the national interest argument retains most, if not all, of its former strength. Under the arrangements negotiated with phe Italian interests the lead on the ucchinical and electrical engineering side will lie with GLC who are likely to appoint the projres manager for this part of the contract. it io in this field that it would be particularly useful for the UK word 10 to acquire the experience and know-how which would be Gained in carrying out the content, 111 the industrial courent suggests that the existing techniques will be adequate for the civil contracting work. On the mechanical an incoring side, however, knowledge would be pined which might otund 600 in good stood in a market which coons sure to develop strongly in the years ahead. I need only mention that at this moment there is serious concidera- tion being given to the creation of sa transit rail syctons in wel Aviv, Pohran and Angapore, nor are those the only cities likely within a fairly choz, tine scale to develop to the point at which only an under oud zailway systen on comething similar will be apt to solving their transport needs.
As you know, at the necting there was mention of two other general considerations which accted to argue for backing a consortium with a cubstancial UK component almost as strongly ns we would a wholly
012 that working thus together with Cunopeuke was consonant with 10.0's general uroyean policy; the other that, as the 100 saw it, there was a general need in prestige terus Zoz the to be playing an olive and 11 possible major role in an undertaking cf this magnitude in long long.
T DON ACTCE
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