TNAG-0770-FCO40-974-Construction-of-underground-railway-system-in-Hong-Kong-1978 — Page 221

HQFQ 035/22

1. 00 DO T

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GR 160

CYPHER/CAT A

FM BTC HONG KONG 221005Z

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NO DISTRIBUTION ECGD TRED (2)/ HKG) / PUSD (2)/K129

DISTRIBUTION SELECTORS FILE COPY

RECE

HKK173/1

READ MASKOTY NO. 51

2 1 FFR 1978

DESK OFFICIA

INDEX

REGISTRY

PA

Action Taken

No

RESTRICTED

TO IMMEDIATE D.O.T TELNO.CREDA 80 OF 22 FEBRUARY 78,

INFO IMMEDIATE E.C.G.D (FOR BIRCH).

FOR PRISTON, CRE4 AND GURTENNE O.P.G. MY EXCED 4 : M.T.R.

1. RIDLEY, MANAGING DIRECTOR OF THE M.T.R INFORMS ME THAT THOMPSON'S LUNCH WITH COTTERILL DID NOT TAKE PLACE DUE TO SNOW FALL IN DORSET. HE FEARS, THEREFORE, THAT THOMPSON MAY NOT HAVE HAD THE OPPORTUNITY TO STRESS THAT THE M.T.R BOARD WILL ONLY BE PERSUADED TO ACCEPT METCAM'S OFFER FOR THE OPTION IF E.C.G.D GUARANTEE THAT THE SAME TERMS, INCLUDING

HONG KONG DOLLAR FINANCING AND ESCALATION COVER, WILL BE AVAILABLE FOR THE FURTHER 150 CARS. RIDLEY SAID THAT OTHERWISE THERE IS NO CHANCE THAT HIS BOARD WILL REDUCE THEIR BARGAINING POSITION FOR THE SUBSEQUENT 150 CARS BY TAKING UP THE OPTION.

2. YOU WILL RECALL THAT THE IMPORTANCE OF LANDING THE OPTION WAS STRESSED BY GARDINER, CHAIRMAN OF THE LAIRD GROUP WHEN HE CALLED ON THE P.U.S (LIGHTMAN'S CREDA 11 OF 17 JANUARY).

MARCH

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