KUCHING: Shanghai Taison Pulp-Making Group of China is keen to set up a pulp and paper factory in Bintulu with an investment amounting to US$4 billion.
The factory would be able to process one to two million tons of pulp, 800,000 tons of paper and 300,000 tons of tissue paper.
Shanghai Taison Pulp-Making Group of China president Wu Mingxi voiced the plans when leading a delegation to pay a courtesy call on Chief Minister Datuk Patinggi Tan Sri Adenan Satem in Petra Jaya yesterday.
The company chose Sarawak to expand its pulp and paper making activities because of the natural resources readily available in the state, apart from the investment-friendly environment and political stability.
The project is expected to generate at least US$500 million in foreign exchange or RM2 billion a year.
It is also expected to open up 17,000 job opportunities for locals not only at the processing factory but also plantation industry as well as development of human capital, technical skills and knowledge.
This would have a major impact on the development of the pulp and paper industry in Sarawak.
Shanghai Taison Pulp-Making Group of China is a major forestry and timber, pulp and paper processing, as well as packaging business with 13,000 workers in 30 factories in China as well as overseas.