GUANGDONG NUCLEAR PROJECT: DRAFT PRESS RELEASE
The Secretary of State for Trade and Industry said today:-
"I am very glad to hear that Vice Premier Li Peng has expressed his
congratulations on the signing of a memorandum between the Guangdong
Nuclear Power Joint Venture Company and GEC Turbine Generators Limited
on final price negotiations for the supply of the turbine generators for
the Guangdong nuclear power station. I understand that this will lead
to signature of a contract valued at over £250m in due course. I
congratulate the GEC team, headed by Mr RJ Davidson, on their success
which will provide valuable work within the factories of GEC Turbine Generators and those of their sub-contractors.
A team of officials from my Department and from ECGD, accompanied
by a representative of the Midland Bank, will be arriving in Peking
shortly to conclude discussions with the Bank of China on aspects of
the financing of the project.
This is a most important project, and I am delighted that a UK
company will be able to play a major part in meeting future demand for
electrical power in Guangdong province and in Hong Kong. This project
will be a significant step in helping to strengthen commercial relations
between China, Hong Kong and the UK after the agreement reached last
year between HMO and the Government of the People's Republic of China
over the fature of Hong Kong. I hope that this will lead to other
opportunities for UK companies in China.
China Light and Power, the larger of the Hong Kong electricity
utilities, has played a key role in bringing this project to fruition,
and is the major partner in the Hong Kong side of the Joint Venture
Although it is difficult to single out individuale, I should
like to mention especially Lord Kadoorie, Chairman of CLP, and Mr Stones,
the Managing Director, for their efforts in bringing the project to
company.
fruition".
TOTAL P.02
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