Jindong Paper to Become World's Largest Producer of Art Paper

12/12/2000

Jindong Paper Co., Ltd. recently signed a contract with Zhenjiang Branch of the Bank of China for a loan of 135 million U.S. dollars for an expansion project, which will make it the world’s largest maker of art paper. Jindong in Zhenjiang City of east China’s Jiangsu Province, is funded by APP Group Company of Indonesia to produce pulp and paper. After two years’ development, the company is operating smoothly. By the end of July this year, its assets totaled 14.8 billion yuan, and accumulated profits, over 200 million yuan.  The 7-year loan of 135 million dollars will be used to import equipment to expand Jindong’s art paper capacity from 600,000 tons to 1.2 million tons, making it the largest maker of art paper in the world and easing shortage of upscale paper on the Chinese market. The expansion project is expected to raise Jindong’s annual sales revenue by 5-6 billion yuan. Enditem SOURCE FROM: China Cigarette Materials