Zhejiang Great Shengda shifts 17.5bn yuan to Thai plant

Zhejiang Great Shengda Packaging Co., Ltd. will redirect 17.5 billion yuan of unutilized raised capital from a domestic eco-friendly tableware project to build a new packaging facility in Thailand.

The strategic shift responds to US anti-dumping and countervailing duties on Chinese products that have impacted the original project's viability. The Thailand facility, requiring total investment of 18.8 billion yuan, will produce 50 million square meters of corrugated paper boxes annually.

The proposal requires domestic and international regulatory approvals.