China’s NFC Agrees to Invest in Russian Lawmaker’s Zinc Project
China Nonferrous Metal Industry’s Foreign Engineering and Construction Co. agreed to acquire a 50 percent stake in Russian MBC Corp.’s Ozernoye zinc project in eastern Siberia, MBC said in a statement.
The Chinese company, also known as NFC, signed a framework agreement today at a Russia-China forum in Moscow in the presence of First Deputy Prime Minister Igor Shuvalov and Chinese Vice Premier Li Keqiang, according to the statement.
NFC preliminarily agreed to organize financing for the project, build a processing plant and take on the metal produced, the statement showed. MBC is controlled by Russian lawmaker and owner of the IFC Metropol brokerage Mikhail Slipenchuk.
To contact the reporter on this story: Ilya Khrennikov in Moscow at email@example.com
To contact the editor responsible for this story: John Viljoen at firstname.lastname@example.org
Bloomberg moderates all comments. Comments that are abusive or off-topic will not be posted to the site. Excessively long comments may be moderated as well. Bloomberg cannot facilitate requests to remove comments or explain individual moderation decisions.