TNAG-0766-FCO40-970-Supplies-of-electrical-power-for-Hong-Kong-Castle-Peak-power-1978 — Page 129

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PRIORITY

CYPHER CAT A

FM DOT 121900Z

CONFIDENTIAL

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CONFIDENTIAL

TO PRIORITY BTC HONG KONG TELNO INDUS 8 OF 12 JANUARY

POWER STATION PROJECT

PLEASE PASS AS SOON AS POSSIBLE TEXT OF FOLLOWING LETTER TO KADOORIE FROM LIPPITT, REGARDING CLP/EE REQUEST THAT SCHRODERS BE NOMINATED AS LEAD BANK:

I AM SORRY I HAVE NOT REPEAT NOT REPLIED BEFORE NOW TO YOUR

LETTER OF 21 DECEMBER. I DID NOT REPEAT NOT RETURN FROM CHRISTMAS

LEAVE UNTIL RECENTLY BUT I HAVE GIVEN CONSIDERABLE THOUGHT TO

YOUR LETTER SINCE MY RETURN.

I FULLY UNDERSTAND YOUR WISH THAT SCHRODER WAGG SHOULD BE MANAGERS

OF THE US DOLLAR EXPORT FINANCE LOAN. THIS HAS BEEN DISCUSSED

BETWEEN G E C WHO, AS YOU KNOW, AS MAIN CONTRACTOR FORMALLY MAKE THE NOMINATION TO E C G D, AND LAZARDS, WHO HAD ALREADY BEEN

NOMINATED. ALL ARE PREPARED TO ACCEDE TO YOUR WISH ON THE UNDER- STANDING OF COURSE THAT THE COST OF EMPLOYING SCHRODERS WILL BE

FOR THE BUYERS' ACCOUNT.

I AM MOST ANXIOUS, HOWEVER, THAT THIS CHANGE SHOULD NOT REPEAT NOT IN ANY WAY UPSET THE SPECIAL ARRANGEMENTS IN RESPECT OF THIS

UNIQUE PACKAGE WHICH HAVE BEEN SO IMPORTANT IN THE SUCCESS OF THE

WORK SO FAR. IN PARTICULAR:

1 THAT THE DEPARTMENT OF INDUSTRY SHOULD CO-ORDINATE AND

SUPERVISE THE NEGOTIATIONS WITH CLP/EE:

11 THAT SCHRODERS SHOULD CONTINUE TO BE ABLE TO GIVE YOU

FINANCIAL ADVICE IN THE WEEKS AHEAD WITHOUT ANY POSSIBILITY

OF A CONFLICT OF INTEREST SO FAR AS EC G D IS CONCERNED,

CONFIDENTIAL

AFTER MUCH THOUGHT