Pulp line in Rizhao, China, built by Singapore's RGE said to have largest foreign investment utilization of its type, totaling 11.3B yuan, in Shandong province, represents paper sector's structural realignment
November 9, 2010
– The pulp line in Rizhao, China, built by Singapore’s RGE Pte. Ltd., is the largest of its kind in terms of foreign investment utilization, which totals 11.3 billion yuan (US$1.5 billion), Jiang Daming, governor of Jiangdaming, in the Shandong province, told Chen Jianghe, chairman of the board of directors of APRIL (Asia Pacific Resources International Ltd.), chinanews.com reported Oct. 28.
The project is conducive to the substitution of pulp imports and is significant for the paper sector’s structural realignment as well as the effort to resolve environmental pollution. It is a new focus for economic growth in the Shandong province.
Chen Jianghe said the project complies with energy conservation and emissions reduction. He said he hopes to grow the investment in Shandong.
According to its website, the RGE Group comprises a group of independent companies operating in the resource development industry. The companies are organized into business groups that include fiber, pulp and paper (APRIL); agriculture industry (Asian Agri PT); dissolving woodpulp and viscose staple fiber (Sateri International Group); and energy resources development (Pacific Oil & Gas).