Chinese mill group Nine Dragons Paper is reportedly seeking to build a recycled paper mill in Paradeep in India.
According to Indian publication Business Standard, Nine Dragons is in discussion with the investment body, Industrial Promotion & Investment Corporation of Odisha (IPICOL), which represents the commercial investment interests of the Indian state of Odisha.
IPICOL managing director Nitin Bhanudas Jawale said: “Nine Dragons has asked for 200 acres of land. They are keen to establish a facility near Paradeep as it will be convenient to import the raw material needed to run the plant. The company does not need any virgin pulp.”
As previously reported by REB Market Intelligence, the Chinese mill group has signed a memorandum of understanding with the Indian state government of Maharashtra to invest £1.28 billion in a new mill in Raigad that would use 300 acres of land. This is approximately 1,800 km from the proposed mill in Paradeep.
It isn’t clear as yet whether this facility in Paradeep will be in addition to the facility in Raigad, or a new location for a mill.