TNAG-0770-FCO40-974-Construction-of-underground-railway-system-in-Hong-Kong-1978 — Page 231

METROPOLITAN CAMMELL LIMITED

AHS:ejm/151

Mr J A Gardiner

Chief Executive

The Laird Group Limited 10 St James's Street

LONDON

SW1A 1EF

3 January 1978

Dear John

HONG KONG

We got the order in July 1976 and the position between then and now is shown in the following table:

to buy £1

to buy 1 Yen

to buy 1 D.Mark

@June 1976

MTRC needed

8.4 UK$

0.01€ HK$

1.9 EK$

€ mid-December 1977

MTPC needed

8.5 HK$

0.019 HK$

2.1 HK$

% increase in

cost to MTRC

18

19%

11%

To which has to be

added the cost of

domestic inflation

25%

10%

10%

Total increase in

26%

29%

218

cost to MTRC

Yours sincerely

T.

AH SANSOME

151