TNAG-0565-FCO40-660-Construction-of-an-underground-railway-system-in-Hong-Kong-1975 — Page 140

NCF

DO HONG KONG

GR 240

DESK BY 101300Z

CYPHER/CAT A

FM DTI 101130Z

UNCLASSIFIED

COMMERCIAL IN CONFIDENCE

DESK BY 101300Z

RECEIVED IN

REC

3.51

10 SEP 17/5

78

R129. дот.

HKIOD. FRD TREY.

R

TO IMMEDIATE HONG KONG TELNO CREDA 164 OF 10 SEPTEMBER.

FOLLOWING FOR A CHUTTON PS/SOS(T) FROM LEE

YOUR CREDA 94 9 SEPTEMBER: ECGD COVER FOR GAMMON (HK) PURCHASE OF

UK STRUCTURAL STEEL.

THERE SEEMS TO BE SOME CONFUSION BECAUSE ECGD HAVE NOT REPEAT

NOT REFUSED THE COVER MR WARD REFERRED TO. THE ORIGINAL REQUEST WAS

FOR COVER FOR A LONG LIST OF ITEMS AND ECGD'S ANSWER, AS

CONTAINED IN LETTERS TO BOTH GAMMON SERVICES UK AND LLOYDS BANK ON 3 SEPTEMBER, WAS QUOTE IN PRINCIPLE WE ARE WILLING TO CONSIDER THE INCLUSION OF SUCH PURCHASES WITHIN THE PROPOSED CREDIT

FACILITY BEING ARRANGED BY KLEINWORT BENSON LTD UNQUOTE. MR WARD SHOULD KNOW THIS, HOWEVER, SINCE ECGD HAVE BEEN ADVISED THAT THE TEXT OF THOSE LETTERS WERE TELEXED OUT TO GAMMON H K. IT REMAINS FOR THE MASS TRANSIT AUTHORITY TO AGREE THEIR LINE OF CREDIT WITH KLEINWORT BENSON AND FOR MTA TO ALLOCATE PART

OF THEIR TOTAL CREDIT TO GAMMON H K.

ON REFERENCE TO NEW BUS GRANTS THESE HAVE NOT REPEAT NOT BEEN SUSPENDED OR REDUCED. THEY WILL BE THE SUBJECT OF FORTHCOMING MINISTERIAL DISCUSSION AT PESC. GRANT IS PAYABLE TO ALL BUS OPERATORS INCLUDING LOCAL AUTHORITIES, NATIONAL BUS COMPANY

AND INDEPENDENTS.

CALLAGHAN

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