China’s State Council has approved a plan for the Singapore Asian Paper and Pulp Co. and the Ningbo Asia Paper Industry Co. to build a 1 million-ton containerboard manufacturing plant. The facility is expected to be the largest Sino-foreign cardboard plant in China. Ningbo Asia Paper Industry Co. will invest CNY 1.06 billion (USD 128 million); Singapore Asian Paper and Pulp Co. will invest CNY 3.15 billion (USD 381 million). Annual production capacity of the plant will reach 1 million tons. Approximately 260,000 tons of finished board will be used as food and beverage packaging, and another 300,000 tons as art board. The plant will also produce about 440,000 tons of high-end corrugating medium.