Chinese paper manufacturing group to invest RM5.4bil more

[superadmin]

PETALING JAYA: Prime Minister Muhyiddin Yassin today announced that Nine Dragons Paper (Holdings), Asia’s largest paper manufacturing group, will invest an additional RM5.4 billion in the country.

The Chinese company’s latest investment in Malaysia includes a RM4.2 billion investment in a factory in Banting, Selangor, and the acquisition of a paper and pulp mill in Bentong, Pahang, worth RM1.2 billion.

In a statement on his Facebook page, Muhyiddin said the two projects will generate 2,180 jobs, with almost 90% of them going to Malaysians. The project in Banting is scheduled to begin operations in 2022.

“The increase in investment by the Nine Dragons Paper Group clearly shows the confidence of foreign investors in continuing to make Malaysia their destination of choice,” said Muhyiddin.


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