Latest updates on what's happening in RGE Group
RGE recently participated in the 2022 Financial Street Forum annual conference. The conference, held in Beijing from 21-23 November, is widely viewed as one of the most influential forums in the Chinese finance sector.
At the event, Belinda Tanoto, Managing Director, RGE, joined financial policymakers to share her thoughts on the development of RGE in China, emphasising the Group’s commitment to follow China’s development strategy. RGE would continue to support the green development of the pulp and paper industry through technological innovation, as well as China’s ‘Dual Carbon’ goals, she said.
Supporting China’s green push
Ms. Tanoto acknowledged the role of major Chinese financial institutions in supporting RGE’s green innovation efforts and growth in China. After years of research and development, the Group achieved a breakthrough in September 2022 when it started mass production of Lyocell, a natural biodegradable fibre, in Liyang, Jiangsu Province.
Made from wood pulp sourced from certified and sustainable operations, Lyocell is used to produce high-quality textiles and personal hygiene materials.
Sateri commenced mass production of Lyocell in Jiangsu, China.
Also in Jiangsu Province, in May 2022, the Group commenced construction of Phase I of RGE’s industrial park, its largest integrated project in Rugao. Phase 1 includes a one million-tonne high grade ivory board facility, costing RMB 6.5 billion.
The only ivory board facility in China with zero industrial wastewater discharge, it will produce fully degradable food-grade wrappers, replacing plastic products. Operational commencement is expected to take place by the end of 2023.
Furthering the development of China’s manufacturing powerhouse
Since its establishment in China in the 1990s, the Group has invested more than RMB 80 billion in the country. This year alone, it has hired 3,000 more workers, bringing RGE’s total workforce in China to over 15,000 employees.
Ms. Tanoto attributed RGE’s growth to China’s support for enterprises and its massive push to be a manufacturing powerhouse.
“We want to play our part by not only contributing to China’s industrial development, but also towards its dual goals of reaching peak carbon emissions by 2030 and achieving carbon neutrality by 2060,” she said.
Sateri is the largest producer of viscose fibre in the world.
Today, five of Sateri’s six viscose fibre mills in China are fully compliant with the emission limits set out in the European Union Best Available Techniques Reference Document on Polymers (EU-BAT BREF). A member of the RGE Group of companies, Sateri is the world’s largest cellulose fibre producer.
Asia Symbol (Shandong), another member of the Group, has also invested more than RMB 5 billion in environmental protection. It was awarded the title of “National Green Factory” in 2021.
“China is at a critical juncture of progress. We hope to continue collaborating with Chinese financial institutions to drive breakthroughs in manufacturing innovation, and support China’s push to be a manufacturing powerhouse,” said Ms. Tanoto.
