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Singapore to Invest in China's Paper-Making Industry
Construction of a US$1.4-billion Sino-Singapore joint venture will start this year in the city of Ningbo, east China's Zhejiang Province.
The Ningbo Asia Pulp and Paper Co. Ltd jointly funded by the Singapore Asia Pulp and Paper Shareholding Co. Ltd. and the Ningbo Paper-Making Development Investment Co. Ltd. will be the largest foreign-funded project in Zhejiang Province this year.
The Singapore side will contribute US$1.05 billion, and the rest will come from the Ningbo side.
The new corporation, located in the Ningbo Economic and Technological Development Zone, will be engaged in the production and sales of a variety of paper products, including corrugated and packing board.
The company is estimated to be capable of turning out one million tons of paper products a year.
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