TNAG-0766-FCO40-970-Supplies-of-electrical-power-for-Hong-Kong-Castle-Peak-power-1978 — Page 126

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13

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FM BTC HONG KONG 131141Z

CONFIDENTIAL

TO IMMEDIATE D.0.1 TELNO.INDUS 6 OF 13 JAN 78.

A

FOR LIPPITT,

YOUR INDUS 8 POWER STATION PROJECT.

FOLLOWING IS TEXT OF REPLY FROM SIR LAWRENCE KADOORIE. BEGINS:

1. THANK YOU FOR YOUR MESSAGE IN REPLY TO MY LETTER OF 21ST

DECEMBER.

2. I NOTE YOUR WISH THAT THE DEPARTMENT OF INDUSTRY BE INVOLVED TO CO-ORDINATE AND SUPERVISE NEGOTIATIONS WITH CLP/EE AND THIS HAS ALSO ALWAYS BEEN OUR WISH.

3. SPECIFICALLY AND REFERRING TO YOUR TELEX WE HAVE THE FOLLOWING COMMENTS ON PARAGRAPHS 1-V :-

PARA I

SUBSTITUTE THE FOLLOWING:

''ECGD AND SCHRODERS WILL HAVE THE CONTROL OF THE PRODUCTION OF THE LOAN DOCUMENT.''.

COMMENT THE LOAN DOCUMENT SHOULD IN THE NORMAL WAY BE A MATTER PURELY BETWEEN THOSE DIRECTLY INVOLVED THAT IS THE LENDERS, SCHRODER AND ECOD, AND THE BORROWER, CLP/EE. IF ECGD NEEDS THE ADVICE OF LAZARDS OF LONDON TO HELP IT TO PROTECT ITS INTEREST IT CAN, OF COURSE, SEEK THEIR HELP IN THE SAME WAY CLP/EE HAVE SOUGHT THE ADVICE OF SCHRODERS AND CHARTERED IN HONG KONG.

SCHODERS, AS A SIGNIFICANT LENDER. IN ITS OWN RIGHT WILL ENSURE