TNAG-2264-FCO40-3261-Hong-Kong-Port-and-Airport-Development-Strategy-(PADS)-gener-1991 — Page 26

CONFIDENTIAL

THE KEY DATES FOR PROJECTS REQUIRING DECISIONS THIS

FINANCIAL YEAR ARE:

(a) Trafalgar House have asked for an indication of

ECGD cover for their Anglo-Japanese Consortium's bid for the Lantau Fixed Crossing by 15 November. (ECGD wrote

to EGC about this on 28 October.) A few days' slippage is no doubt manageable, but anything more would cause serious difficulty, as they need to discuss and agree financing arrangements with their Japanese partners in time to submit their tender on 16 December (the

deadline). The Hong Kong Government have made clear that

they are likely to give preference to tenders which include attractive financing proposals. If successful,

the Anglo-Japanese Consortium would seek an ECGD commitment either at the end of this financial year or at

the beginning of next.

(b)

Tenders for the next main project, the airport platform/site preparation (total value c £550 million), are due to be submitted in February 1992, and again

indications of ECGD cover will be needed beforehand:

Trafalgar House and Costain lead one of the six consortia

which have prequalified, Balfour Beatty a second and

Mowlem are part of a third.

(c)

An indication for the Black Point power station may

also be required before the end of March 1992.

SG4AEM

CONFIDENTIAL