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Home >> Business
UPDATED: 08:05, April 30, 2006
Indian paper giant to establish joint venture in Malaysia
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The Sabah state in eastern Malaysia is expected to sign a memorandum of understanding (MOU) on a joint venture with India's pulp and paper giant next month, a senior official said Saturday.

The Innoprise Corporation in Sabah is expected to ink the MOU with Ballapur Industries Ltd, one of the biggest paper producers in India, Sabah Chief Minister Musa Aman was quoted as saying by local media.

The Sabah state government has identified a 60-hectare area with 36 hectares suitable for timber cultivation for the joint venture, Musa told reporters in Kota Kinabalu,the state capital.

Musa made the remarks after concluding a seven-day visit to India on an industry and investment mission.

Source: Xinhua


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