TNAG-0637-FCO40-785-Supplies-of-electricity-for-Hong-Kong-1977 — Page 15

HONG KONG PROJECT

IN CONFIDENCE

|

arting I/n

Jeur

Note of a meeting held on Thursday 11 August at 10.30 am in Room 839 at 1 Victoria Street

In the chair:

Those present:

Department of Industry

CEGB

не

(187)

fle. 178

Mr Lippitt

Mr Powell Mr Masding Mr Weaving

-

IM

Mr Scott

GEC

Mr J Davidson "

REGIO

Mr Bagley

Babcock & Wilcox

16 AU 1977

Mr Grey

Mr D R Davidson"

#

#F

HKK 164/1

Mr Edwards

Balfour Beatty

Mr Babbage

Mr Diverall

Mouchel and Partners

Mr Gemmill Lazards

Mr Baker

11

Department of Trade

Mr Macdonald Department of Industry Mr Moulson

Visit to Hong Kong 7-9 August

1

Mr Lippitt invited Mr Macdonald and Mr Gemmill to report on their recent visit to Hong Kong.

2

Mr Macdonald reported that the team had comprised Mr Birch (ECGD), Lord Kindersley and Mr Gemmill (Lazards) and himself. The purpose of the visit had been twofold:

3

i

ii

to discuss with the Hong Kong banks and the Hong Kong Government whether the proposal to denominate the buyer credit in Hong Kong dollars was both practicable and acceptable;

to maintain contact with CLP/PEPCO following Sir Lawrence Kadoorie's visit to London.

So far as the discussions with CLP/PEPCO were concerned, meetings had taken place with Sir Sidney Gordon and, separately, with the CLP/PEPCO "Project 77" steering committee. From these discussions the following main points had emerged:

i Exxon were anxious lest further slippage in the

timetable for presenting the UK package might foreclose the option to put the contract to international tender. In this respect it was

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