Memorandum of Understanding Signing between Nextgreen IOI Pulp and Xiamen C&D

Nextgreen IOI Pulp Sdn Bhd (NIP), a subsidiary of Nextgreen Global Berhad (NGGB), is thrilled to announce the signing of a groundbreaking Memorandum of Understanding with Xiamen C&D Paper & Pulp Group Co., Ltd. (Xiamen C&D). This collaboration with Xiamen C&D, a subsidiary of the global Fortune 500 company Xiamen C&D Corp. Ltd., marks a significant leap towards the establishment of a green and sustainable paper pulp production facility.

The joint venture will result in the formation of a new company, with NIP holding a 75% stake and Xiamen C&D holding the remaining 25%. The primary objective is to establish a cutting-edge paper pulp production facility spanning 43 acres within NGGB’s flagship industrial park, the Green Technology Park (GTP) in Pekan, Pahang, which is part of the East Coast Economic Region (ECER) Master Plan.

This facility aims to initially produce 100,000 metric tonnes per annum of paper pulp made from oil palm empty fruit bunches (EFB), leveraging NGGB’s patented PRC-RBMP technology. NIP will spearhead feasibility studies, project preparation, procurement, business development, and stakeholder engagement. While Xiamen C&D brings invaluable expertise in business development, assist with securing external financing, and manage the off-take of the facility’s output.

This milestone follows closely on the recent partnership announcement with IOI Paper Pulp Sdn Bhd, an indirect wholly-owned subsidiary of IOI Corporation Berhad, to realizing the ambitious master plan of the first large-scale zero-waste paper pulp plant at GTP through innovation and sustainable practices.

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