Chinese paper recycler and producer Nine Dragons Paper has signed a memorandum of understanding with the Indian state of Maharashtra to invest some EUR 630 million in a new facility.
According to Indian media, Nine Dragons plans to build a mill in the region of west and central India that includes Mumbai. The company currently has capacity to produce more than 15 million tonnes of paper and containerboard. It has eight facilities in China and one in Vietnam.
In its latest financial report, Nine Dragons says it wants to complete the installation of four new paper machines in China this year. In addition, in the coming 20 months there will be investment of more than EUR 250 million in upgrades and expansion projects at its four subsidiary mills in the US.
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