Hangzhou City, Zhejiang Province ,China 28 January 2019 -- After Lee & Man, another Chinese company is investing in Malaysia. A new recycled board plant with capacities of 700,000 tpy is planned to be erected there.

Chinese papermaker Zhejiang Xinshengda Holding Group (Zhejiang XSD) is planning to build a board mill rated for 700,000 tpy of GD board in Malaysia. At the end of November 2018, the company signed a memorandum of understanding (MoU) with Invest Kedah Berhad, a state-owned consultancy for investing in Malaysia.

The mill is expected to come up in Kulim and host three board machines, according to the MoU. The potential investment amount is put at MYR1.2bn (roughly €260m) and the project could generate around 1,300 new jobs.

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