KUALA LUMPUR: Pulp and paper manufacturer Nextgreen Global Bhd’s subsidiary, Nextgreen IOI Pulp Sdn Bhd (NIP), has inked a memorandum of understanding (MoU) with Xiamen C&D Paper & Pulp Group Co Ltd for the development and operation of a green and sustainable paper pulp production facility.
Xiamen C&D is a wholly owned subsidiary of Xiamen C&D Inc under Xiamen C&D Corp Ltd, a Fortune Global 500 company.
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 (GTP) in Pekan, Pahang, which is part of the Eastern Corridor Economic Region.
The initial production capacity is expected to be 100,000 tonnes of paper pulp per annum, made from oil palm empty fruit bunches, using Nextgreen Global’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.
Nextgreen Global managing director Datuk Lim Thiam Huat said, “This strategic collaboration marks a shared commitment to innovation, sustainability, and economic development that is a win-win for both parties. By scaling up the utilisation of the innovative PRC-RBMP technology with our China-based partner, a leading enterprise in terms of paper sales, pulp imports and sales in China, we aim to pioneer a new era of eco-friendly industrial practices, driving progress and accelerate prosperity for the region and beyond.”
The MoU comes on the back of Nextgreen Global’s recent announcement that it entered into a shareholders’ agreement with IOI Paper Pulp Sdn Bhd, an indirect wholly owned subsidiary of IOI Corporation Bhd, paving the way for the development of the first large-scale zero-waste paper pulp plant at GTP.
Source: The Sun Daily
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