MANILA — The Board of Investments (BOI) announced Tuesday that it has approved the P8.5-billion project of United Pulp and Paper Co., Inc. (UPPC).
UPPC’s project entails the establishment of a paper machine line facility in Calumpit, Bulacan, which targets to manufacture 220,000 tons of corrugated medium paper annually.
The firm eyes to start operation of this facility by November 2020.
Output from this plant is expected to serve both local and international markets. It also aims to boost paper supply in the domestic market and to reduce importation.
BOI said UPPC is also investing in a power boiler that will lower the energy requirements of its new paper-making facility.
Trade Undersecretary and BOI Managing Head Ceferino Rodolfo awarded the Certificate of Registration to UPPC president and chief executive officer Danaidej Ketsuwan. (PNA)