TNAG-1058-FCO40-1308-Guangdong-nuclear-power-station-project-1981 — Page 98

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(ix)

(x)

in

ΤΟ

For

The amount of

Electricity generated by GNPC will be sold to GPC and CLP in the ratio of

electricity 60% and 40% respectively. payments to GNPC, CLP will pay in Hong Kong currency and GPC will use RMB supplemented by foreign exchange. foreign exchange to be used by GPC would depend on foreign

balance

ensure GPC will currency

the GNPC account.

the GNPC foreign have sufficient foreign exchange to meet

it balance requirement, currency

has been agreed that GPC will resell one-third to one-half of its electricity share to CLP at a price equivalent to the GNPC price plus a fixed percentage to be determined before signing of the contract. to sell this In order

and for GPC to purchase

would have

be electricity,

to price

financially

attractive to both Companies.

for

CLP

the

the

shall

GPC/HKNIC joint venture

of the

loans

The contract period of start from the effective date of the joint venture contract and shall terminate 20 years after the commissioning

start after all second unit. Decapitalisation shall are repaid by the joint company and shall be completed by the

of end

period. document consideration contract ownership of the assets after this period.

the

contract

During

will be

preparation

given

of

to

the

the

(xi)

GNPC, detailed

after

shall its establishment, engineering

immediately carry out

appertaining

to the new

studies and financial

power station.

investigations

Other

precontract

and financial loans

should be the

considerations such as site conditions, plant arrangements of detailed

subjects

studies before award of contracts.

(xii)

(xiii)

The project management team will consist of GPC & CLP staff and also staff from the consultants employed by the joint and CLP shall investigate the GPC venture company. desirability of establishing a Project Management Company to undertake the engineering, construction and management of the nuclear power station.

GPC and CLP shall, after the acceptance of the feasibility study report, start discussion on the joint venture contract, sales for contract

sharing of electricity, electricity (GPC to CLP) and Articles of Association for the establishment of GNPC and Project Management Company.

agreement