Mega paper project kicked off

SHANGHAI: Japan's Oji has kicked off construction of its $1.95 billion paper project in Nantong, Jiangsu province, after five years of preparation, said a senior local official yesterday.

The long-awaited project will be a strong rival to Chinese paper makers as its first phase comes onstream in 2010, said Chen Dexin, Party secretary of the Nantong Economic-Technological Development Zone Corporation.

A joint venture company, named Jiangsu Oji Paper Co Ltd, was set up last year, with Oji accounting for 90 percent of the investment and the Nantong corporation the rest.