A deal has been signed for Shanying International to build a new recycled paper mill in Haiyan province.
With a total project investment of 12 billion yuan (£1.35 billion) and a 10 billion yuan investment (£1.13 billion) in the project base in the Haiyan Economic Development Zone, the recycled paper mill is expected to produce 770,000 tonnes of high-end paper.
The investment is intended to produce a world-class mill in paper making, recycled material consumption, energy use and low emission levels.
It will also be a centre for research and development, as well as recycling and manufacturing.
Shanying has not said where it will source material from, but it is likely to be from domestic Chinese sources due to the expected ban on imports by the end of the year.
After full production is reached, the facility is expected to output more than 13 billion yuan (£1.46 billion) in sales per year.
It isn’t clear when the facility will be ready.
Officials from Shanying and Haiyan province attended the signing ceremony.