China Nonferrous boosts Kazakhstan subsidiary warranty guarantee to $1.1bn

China Nonferrous Metal Industry's Foreign Engineering And Construction increased the warranty guarantee limit for wholly-owned subsidiary NFC KAZAKHSTAN LLP to $1.123 billion for a VCM shaft project in Kazakhstan.

The total contract value was adjusted to $9.36 billion. The company's total external guarantees will rise to 54.62% of audited net assets with this new guarantee, up from the current 22.53% representing approximately 1.277 billion yuan.