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Asia Pacific Resources International Holdings Ltd. (APRIL) last month announced a number of expansions. It intends to take a 55% equity in the Sarawak Pulp and Paper project in Bitulu, Sarawak state, Malaysia. The first stage of the U.S.$1.2-billion, two-stage project will be a 750,000 to one-million-mtpy market pulp mill to be completed in 1998 and later integrated into a 300,000-mtpy uncoated woodfree papers mill.
The joint-venture partners are RGM International and PWE Industries Berhad. RGM International is a new company owned by APRIL chairman Sukanto Tanoto (Another "RGM:' Raja Garuda Mas Pulp, Rayon, and Paper--an APRIL subsidiary--is a separate company). PWE Industries, described by APRIL as "a manufacturing company with timber interests: is owned by Malaysian businessman Tan Sri Ting Pek Khiing, who is to build the nearby $6-billion, 669-ft-high Bakun hydroelectric dam. The pulp and paper mill, to be built on an approximately...