HKK173/1
2 4 JUL 1978
3.31
ST
REG
PA. 14ction Teken
42
PRIORITY CYPHER/CAT A
GP5175
FM BTC HONG KONG 219927Z
RESTRICTED
RESTRICTED
TO PRIORITY E.C.G.D TELNO. EXCED 27 OF 21 JULY 78,
INFO D.O.T (FOR CRE4 AND CPG),
FOR BIRCH.
YOUR LETTER OF 27 JUNE: MASS TRANSIT RAILWAY CORPORATION.
1. THOMPSON INFORMS ME THAT HIS BOARD HAVE AGREED TO NEGOTIATE A CONTRACT WITH WESTINGHOUSE BRAKE AND SIGNAL CO.LTD FOR THE SUPPLY, INSTALLATION AND COMMISSIONING OF RAILWAY SIGNALLING AND AUTOMATIC TRAIN CONTROL APPARATUS IN CONNECTION WITH THE TSUEN WAN EXTENSION. HE HAS DECIDED TO HAVE A SEPARATE FINANCE CONTRACT FOR THIS ITEM INCORPORATING A STERLING PRICE AND A HONG KONG DOLLAR LOAN. HE WILL BE CONTACTING THE HONG KONG AND SHANGHAI BANK AND THE CHARTERED BANK TO DISCUSS THE PROVIS.ON OF THE NECESSARY HONG KONG DOLLARS.
2. FOR THE TIME BEING THOMPSON IS KEEPING OPEN HIS OPTION ON
WHETHER TO PROCEED WITH THE OTHER STAGE TWO CONTRACCTSS (TO BE AWARDED ON INTERNATIONAL TENDER) ON THE BASIS OF A SINGLE LINE OF CREDIT OR INDIVIDUAL LOANS AS EACH CONTRACT IS PLACED.
3. DAVID GEMMILL OF LAZARDS IS AWARE OF THIS DEVELOPMENT.
MARCH
EXCED DISTN.
TRED
H K G D
COPIES TO
CRE 4
RESTRICTED.
OPG) DE
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