CONFIDENTIAL
114 30
16
MDADAN
GUANGDONG POWER AUTHORITIES ONLY 24 HOURS EARLIER. HE COULD ONLY SURMISE THAT MITSUBISHI HAD DISCOVERED THE FIGURE IN GUANGZHOU, AND REPORTED TO TOKYO WHERE IT HAD BEEN SHARED WITH C.ITOH. GORDON WU HAS ADVISED GEC ALSTHOM TO KEEP A CARD OR TWO UP THEIR SLEEVE TO TRUMP ANY FURTHER IMPROVED OFFERS THAT MAY BE MADE BY MITSUBISHI.
5. I HAVE OFFERED OUR SUPPORT DURING THE CURRENT TWO DAY TALKS IN GUANGZHOU, BUT GEC ALSTHOM FOR THE MOMENT ARE HAPPY OPERATING THERE ON THEIR OWN. I AND THEY WILL HAVE ANOTHER MEETING WITH GORDON WU LATE ON 17 DECEMBER AFTER THEIR RETURN.
6. GEC ALSTHOM BELIEVE THAT PRC GOVERNMENT APPROVAL FOR THE PROJECT, BOTH AT PROVINCIAL AND NATIONAL LEVEL, HAS YET TO BE FINALISED. THEY SAY THEY ARE NOT CONCERNED ABOUT THIS SINCE THEY DO NOT BELIEVE THAT GORDON WU OR THE GUANGDONG POWER AUTHORITY WOULD HAVE GONE THIS FAR WITHOUT BEING ALREADY ASSURED THAT THE APPROPRIATE APPROVALS WILL BE FORTHCOMING. ONCE THE LETTER OF INTENT IS SIGNED GEC ALSTHOM ARE LIKELY TO START ORDERING MATERIALS AND INCURRING QUITE SUBSTANTIAL COSTS, SO WOULD PROBABLY SEEK SOME INDEMNITY FROM THE CLIENTS SHOULD THE PROJECT NOT PROCEED THEREAFTER.
HEAP
YYYY
ADVANCE
3
HD/HKD
PEP/DTI VIC ST
NNNN
DISTRIBUTION
3
OT2/2 DTI VIC ST
PAGE
2
CONFIDENTIAL
No comments yet.
Private notes are available after approval.