4
The improved road, port and airport facilities will contribute further
to the 4 modernisations of China particularly Guangdong.
The PRC are interested in co-financing the project through performing
roles of both equity investor and lender to the project financing
either by the Bank of China or PRC related companies. A commitment in
these areas is highly desirable with the Bank of China most likely
included in the top tier of lending banks.
UNQUOTE
He was made aware of the tremendous potential for British commercial
involvement in the supply of equipment, engineering and contracting
skills, and that the project would be carried out as a "turn key"
Further explanation of the "turn key" system was explained
outlining the benefits of fixed price, fixed time, with the guarantees
that the project must be completed on time and within budget.
contract.
Sir Percy stated that he was very impressed by the Scheme, the
presentation had been "exceptionally well done" and he could see the
merits for both Hong Kong and the United Kingdom. He stated that it
was not up to the U.K. Government to influence the Hong Kong
Government's decision, however, we could be assured of his "moral
support" and he would discuss the project with the Governor on his next
visit to the United Kingdom in July.
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