Ningbo to Become China's Largest Paper Production BaseA Sino-Singaporean paper-making joint venture will expand cardboard production scale from 500,000 to 1.5 million tons annually, government sources said.Investment in the project will top 18 billion yuan (about 217 million US dollars). Construction of the project in Ningbo, a major port city in east China's Zhejiang Province, may last four and a half years. The project recently got approval from the State Development Planning Commission and it will make Ningbo the largest paper production base in China. A Ningbo-based company will have one-fourth of the shares of the project, and a Singaporean company will take the rest. The investors hope to recover their investments within seven and a half years. |
| People's Daily Online --- http://www.peopledaily.com.cn/english/ |