Nextgreen Global Berhad will be partnering China based Xiamen C&D Paper & Pulp Group Co., Ltd. for the development and operation of the paper pulp production facility the company announced with IOI Corporation.
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.
The initial production capacity is expected to be 100,000 metric tonnes of paper pulp per annum, made from oil palm empty fruit bunches, using NGGB’s patented Preconditioning Refiner Chemical-Recycle Bleached Mechanised Pulp (PRC-RBMP) technology.
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.
