1.
Agenda
The discussions were held in accordance with the agenda set out in the document entitled "Discussions on Joint Development of a Power Station
The document (hereafter referred Project" (copy attached) prepared by CLP.
to as the Agenda) comprised the following parts both in English and Chinese :
(i) (ii)
Agenda for discussions
Sir Lawrence Kadoorie's Introduction
(iii) China Light Chairman's Comments.
Discussions on the various agenda items are summarised in the following sections.
2.
Introduction
Sir Lawrence's introduction was given on page 7 of the Agenda.
Both KEC and CLP expressed sincerity and seriousness in the joint nuclear power station development.
KEC and CLP agreed that the discussions between the two companies this time would be of exploratory nature and would not be binding on either side.
3.
Background
Sir Lawrence's views on the background of the project were given on page 10 of the Agenda.
KEC expressed their views on the joint nuclear power station development in Kwangtung:
(i)
(ii)
Generation expansion would be required both in CLP and KEC in order to meet the load growth in Hong Kong and Kwangtung respectively. In Hong Kong, as all fuels were imported, there was a need for fuel diversification because oil prices were rising rapidly and coal prices were expected to follow the same trend in future. Although Kwangtung had more resources than Hong Kong (such as oil and natural gas) and coal was abundant in China, there was also need to diversify. fuel in Kwangtung. Nuclear Power was a possibility for diversification.
In a joint development, the best assets on either side could be fully. exploited for mutual benefits. For instance, the abundance of land in Kwangtung would facilitate siting of the power station to meet safety requirements,
(iii) Apart from economic benefits, the joint development would strengthen
the link between CLP and KEC. This project was of great significance as it would be the first nuclear power :station to-be built in China.
CLP shared the above views....
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Private notes are available after approval.