PETALING JAYA: Nextgreen Global Bhd
’s latest venture is expected to generate an annual revenue of RM375mil and profit after tax of RM87mil by 2031.
This will be upon completion and ramp-up to full production capacity after two years of operation.
Phillip Capital Research said it was positive on the venture as key earnings upside would come from Neuwhite Paper Pulp Sdn Bhd’s long-term pulp operations with Xiamen C&D as the 100% pulp offtaker.
Nextgreen and IOI Corp Bhd, via their joint entity Neuwhite Paper Pulp Sdn Bhd, acquired 32.794ha of industrial land in Green Technology Park (GTP), Pekan, Pahang for RM70mil for the empty fruit bunch or EFB-based pulp manufacturing facility.
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