GOVERNMENT OF CROSS RIVER STATE OF NIGERIA
Telegrams: GoV CALABAR
Telephone:
Our Ref C/:'AD/ABP/S/7/560
Your Ref
SECRET
MR LONSDALA
The British High Commissi ner,
British High Commissioner's Office,
Lagos.
Your Excellency,
OFFICE OF THE GOVERNOR
P.M. B. 1056
CALABAR
6th December,
82
19............
URGENT
7
* HIGH
COMM
13 DEC 1987
AGOS
Contract Finance/Technical Assistance and Joint Venture for Seastate Seafoods Co. Ltd.
In August this year, one fr. James Lee, the Director of the World Industrial Development Corporation of Hong Kong introduced his company to the dovernment of the Cross River State as a Hong Kong based Finance Technical/Industrial Consortium established under the Law of itong Kong. According to r. Lee, the company was originally registered in the United States of America and specialises in Trade/Financing/Joint Venture participation and Technical Management of small, medium and large scale projects. The contact address of the company is World Industrial Corporation, d... Box1994 'C', 1731 cean Centre Kowloon, Hong Kong. Telephone 3-594685.
2. The State Government showed considerable interest in Ar. Lee's programme particularly in the field of Industrial Fisheries development. Accordingly, the Board of Directors of Seastate Seafoods Limited, a State Government owned Fishing Company was directed to negotiate with Mr. Lee for a loan of #12 million for the expansion of the Fishing programme in the State. A letter of intent was issued to him in June and he was invited to arrange for the financing and also accept joint participation and Technical Management of the Project.
3. There had been series of meetings between Br. Lee and Directors of Seastate Seafoods Ltd. The Company is preparing final documents to aid the com letion of the agreement. it was thought desirable that you should be contacted. The main purpose of course is to brief you on the develo ments but most importantly this letter seeks for a confidential report per bearer of this letter, Mr. J. 1. Essien, General Lanager or as soon as possible from Your Excellency on the status of the
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