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China’s NFC Agrees to Invest in Russian Lawmaker’s Zinc Project

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April 28 (Bloomberg) -- 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 ikhrennikov@bloomberg.net

To contact the editor responsible for this story: John Viljoen at jviljoen@bloomberg.net

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