KUALA LUMPUR: Pulp and paper manufacturer Nextgreen Global Bhd’s subsidiary, Nextgreen IOI Pulp Sdn Bhd (NIP), has inked a memorandum of understanding...
From left: Lim, Xiamen C&D Inc CEO Lin Mao and IOI Group managing director and chief executive Datuk Lee Yeow Chor signing the MoU.: Pulp and paper manufacturer Nextgreen Global Bhd’s subsidiary, Nextgreen IOI Pulp Sdn Bhd , has inked a memorandum of understanding with Xiamen C&D Paper & Pulp Group Co Ltd for the development and operation of a green and sustainable paper pulp production facility.
Under the MoU, NIP and Xiamen C&D will establish a joint venture company, with equity interests of 75% and 25% respectively. The paper pulp production facility is set to be developed across 43 acres of land within the 410-acre Green Technology Park in Pekan, Pahang, which is part of the Eastern Corridor Economic Region.
NIP will take the lead in feasibility studies, project preparation, procurement, and business development, while also engaging with stakeholders and external financiers. Xiamen C&D will lend support in business development, assist with securing external financing, and manage the off-take of the facility's output.
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