China's Nine Dragons Paper Signs MOU to Build Paper Mill in Maharashtra, India
March 5, 2019 - According to an article in The Economic Times (Mumbai), Chinese paper and packaging manufacturer Nine Dragons Paper Ltd signed a memorandum of understanding (MOU) on March 2 with the Maharashtra Industrial Development Corporation to build a paper mill the Indian state of Maharashtra.
Maharashtra is located in west-central India and is best known for its capital, Mumbai (formerly Bombay).
The MOU was signed in the presence of chief minister Devendra Fadnavis and state industries minister Subhash Desai.
As per the MOU, Nine Dragons will invest Rs 4500 crore (approx. $636 million) over five years, a statement from the chief minister's office (CMO) said.
The Economic Times article did not provide specific details about the scope of the project.
SOURCE: The Economic Times