Marubeni in RI pulp project<\/p>\n
TOKYO (AFP): Japan's Marubeni Corp. and Nippon Paper
\nIndustries Co. Ltd. plan to join a US$1 billion pulp project in
\nIndonesia with local lumber company Barito Pacific, a Marubeni
\nspokesman said yesterday.<\/p>\n
The spokesman for the trading house said the three partners
\nwould set up a joint venture as early as February, marking the
\nfirst involvement of the Japanese private sector in the
\nIndonesian pulp industry.<\/p>\n
The new company will be capitalized at $200 million with
\nBarito Pacific and its affiliates holding 80 percent and Marubeni
\nand Nippon Paper, Japan's top paper company, holding a combined
\n20 percent, he said.<\/p>\n
With a further investment of $800 million, the venture aims to
\nproduce 450,000 tons of pulp a year from 1997, of which about
\n100,000 tons will be shipped to Japan.<\/p>\n
Construction of a new plant will start in March on a 300,000
\nhectare (741,000 acre) acacia plantation in Palembang on the
\nisland of Sumatra. \"We are aware of the need to preserve tropical
\nforests,\" the spokesman said.<\/p>\n
Nippon Paper, formed through the merger of Jujo Paper and
\nSanyo-Kokusaku Pulp in 1993, will provide the technology and
\nknow-how for the plant while Finnish and other European companies
\nwill supply most of its equipment.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/marubeni-in-ri-pulp-project-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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