TNAG-2409-FCO40-3503-Hong-Kong-Port-and-Airport-Development-Strategy-(PADS)-Brit-1992 — Page 63

07-MAY-1992 18:25

BRITISH TRADE COMM

P.04

-3-

These factors concern its ability to:

1) complete the project on time,

2) to do SO in conformity with

standards and specifications, and

3) to do so at the lowest possible price.

Our

required

As you all know, we received four tenders for this project last December. We have not been able to accept the

lowest,

from Hyundai Engineering

Construction Co Ltd, of $4,713 million.

which came

and

The other two higher tender prices are:

HK International: $7,363 million

the

All-Japanese

Lantau

Fixed

International consortium: $10,960 million

Crossing

We recognise Hyundai as one of the world's important construction and engineering groups.

We pre-qualified it for this project.

But it has not been possible

primarily because Hyundai

has

extremely important required

to accept its tender, not been able to meet our standards for working

and

employed capital. These standards are designed to avoid the

risk of a contract not being completed because shortage of funds.

of a