Nine Dragons Paper Signs MoU to Set up Paper Unit in Maharashtra

The MoU was signed between the Maharashtra Industrial Development Corporation and Chinese paper manufacturing firm Nine Dragons in the presence of Chief Minister Devendra Fadnavis.

March 2, 2019

Nine Dragons will set up a unit in the state over five years to create 10,000 job opportunities.

Hong Kong-based Nine Dragons Paper Ltd. has signed a memorandum of understanding (MoU) with the Indian state of Maharashtra to invest approximately USD 634 million to establish a paper and board-making presence in the state.

According to a leading daily, the Maharashtra Industrial Development Corporation (MIDC) made an early March announcement about the MoU. A spokesperson for Nine Dragons referred to the MoU as first step towards a market entry.

Nine Dragons currently has more than 15 million metric tonnes of paper and board making capacity, with a focus on containerboard and other packaging grades.

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