Sichuan Yongfeng Pulp & Paper Obtains Backing for Bamboo Pulp Project

Xuyong, Luzhou, China, 08 July 2010 -- On the morning of 29 June, Xuyong government in Luzhou, Sichuan, and Sichuan Yongfeng Pulp & Paper Co., Ltd signed a letter of intent for investment in the 200,000 metric tons/year bamboo pulp integration project in Jiangmen.

With an investment of CNY 1.5 billion, the project has a 600,000 mu forest and a pulp mill. After completion in June 2013, the project will bring an annual sales revenue of CNY 1.05 billion and an annual tax and profits of CNY 0.25 billion.