Caixin
Jul 19, 2018 07:18 PM
BUSINESS & TECH

Shandong Paper-Maker Supersizes Laos Plant

Last year the Laos facility posted a 14.5 million yuan ($2.15 million) loss on just over 144,000 yuan in revenue, but Sun Paper hopes to turn this around to a profit of some 80 million yuan. Photo: VCG
Last year the Laos facility posted a 14.5 million yuan ($2.15 million) loss on just over 144,000 yuan in revenue, but Sun Paper hopes to turn this around to a profit of some 80 million yuan. Photo: VCG

Shan Dong Sun Paper Industry Joint Stock Co. Ltd. will spend more than $600 million on a major upgrade for a production facility in Laos, seeking to make it profitable by recycling waste paper imported from North America and Europe.

Sun Paper’s board has approved an additional investment of $673 million into the plant in Laos’ Savannakhet province, more than doubling the previous $433 million in total investment since the facility’s establishment in 2010, the company said in a Wednesday filing to the Shenzhen Stock Exchange.

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