KUALA LUMPUR, Nov 29 (Bernama) – Eco Palm Paper Sdn Bhd, a recycling based company, expects to invest RM820 million to set up a three-phase corrugated paper plant in Pekan, Pahang.

Managing Director Larry Yong said the company expects to see an annual revenue of RM875 million once the plant is fully completed by 2017.

"First phase of the plant will be completed in 2013 and 50,000 metric tonnes of paper will be produced annually," Yong told reporters before a contract signing ceremony with Jiangsu Jinwo Machinery Co Ltd here Tuesday.

Berjaya Corp Bhd is the major shareholder of Eco Palm.

On the market for corrugated paper, Yong said it was expected to do well as it was an emerging market segment as there was a large demand for paper made from palm fiber.