Saturday, March 29, 2008

Oji starts US$1.95 bln paper project in China

Oji Paper Group, Japan's leading paper maker, has started the construction of paper project in Nantong, east China's Jiangsu Province, with investment of US$1.95 billion, sources reported.

Oji Paper has jointly set up a venture with a registered capital of US$911.5 million, namely Jiangsu Oji Paper Co. Ltd, with Nantong Economic & Technological Development Zone Corp. Oji Paper and the local company holds 90% and 10% stakes in the joint venture respectively.

The venture is capable to produce 800,000 tons of art paper and 700,000 tons of pulp when it is completed in 2014. After the completion of the first stage in 2010, the venture can make 400,000 tons of art paper annually with imported pulp. It may help ease the paper shortage in China, where demand for paper grows 10% yearly.

Oji Paper made its first presence by setting up a representative office in Shanghai in 1995. Later in July, 2001, it set up a fully-owned subsidiary, Oji Specialty Paper (Shanghai) Co. Ltd, to produce the thermal paper. It bought a paper manufacturing plant in Jiangsu Province from P&G in 2002, making it become one of the major paper makers in China.

No comments:

Enter your email address:

Delivered by FeedBurner