Nine Dragons Paper Holdings (2689.HK) signed agreements with the Xinmin government in Liaoning province, on December 29 to invest $1.5 billion in Xinmin to build the Nine Dragon (Shenyang) Paper Making Base, reports China Business News.
The base will have a three million-ton forest-pulp-paper integration plant, a high-end packaging paper plant, a high-end packaging and printing plant, and a waste paper recycling plant.
Nine Dragons has four bases in Dongguan, Taicang, Chongqing and Tianjin at present, with total capacity of 8.82 million tons per year.
The company announced earlier that it will build a two million-ton packaging paper plant in Fujian and a two million-ton linerboard plant in Hunan. Its total capacity will thus increase by 16 million tons per year.