Light Industry: US$2b joint venture
(Reuters)
Updated: 2006-07-28 15:14
China has approved a US$2 billion paper making joint venture in which
Japanese paper giant Oji Paper Co. Ltd. will hold a 90-percent stake, the
nation's top economic planner said, ending a one-year delay.
The 15.83
billion yuan (US$1.97 billion) investment underlines how Japanese paper firms
are looking elsewhere for growth opportunities as their domestic market,
dominated by Oji and rival Nippon Paper Group, has matured.
Oji had earmarked 220 billion yen (US$1.9 billion) for the project that it
announced last year to begin operations in 2008, pending government
approval.
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