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Jakarta Post

International Paper to invest $4b in pulp factory

  • The Jakarta Post

Jakarta   /   Mon, March 24 2008   /  01:10 am

A giant U.S.-based paper and pulp company, International Paper, plans to invest more than US$4 billion in a pulp factory and industrial forest. Director general for forest product management at the Forestry Ministry, Hadi S. Pasaribu, said the pulp factory would have the capacity to produce 1.5 million tons of pulp per year. "They are planning to establish a 500,000-hectare plantation forest to support the pulp factory," he said, as quoted by Antara. Hadi said Central Kalimantan and Papua had been chosen as the investment locations despite a lack of supporting infrastructure because no similar businesses operated there. International Paper revealed their interest directly to Forestry Minister MS Kaban last month. Representative president of International Paper Asia, Thomas Gestrich, and the company's director for strategic planning and development in A...