The agreement will cover the principal loan amount, interests, penalties, liquidated damages, compensations, as well as other payable costs and expenses of not more than RMB146.5 million ($30.6 million).
Sapphire Corporation has, on Aug 9, entered into a covered guarantee agreement with Shandong Hi-Speed Road & Bridge Group, where Sapphire’s 97.99%-owned subsidiary Chengdu Kai Qi Rui Business Management Co (Chengdu KQR) will provide a covered guarantee to the latter on the terms of the agreement.
The agreement was signed by Chengdu KQR and Ranken Railway Construction Group, an associated company of Sapphire Corporation, on Aug 9.
