On 27^th, June, Shandong Chenming Paper Group co., LTD announced that annual capacity of 350000 tons of high-grade paper project were going to constructed in the wholly owned subsidiary of Jiangxi Chenming, in order to varied the company's products. It is reported that the project adopt commodity bleaching pulp and mechanical pulp and introduce the current international advanced production technology and equipments. Total investment is of about 1.83 billion yuan. Project construction period is 18 months. According to its annual output of 350000 tons, it is expected to achieve in sales income of about 1.858 billion yuan, tax turnover of about 215 million yuan, and the profit of about 160 million yuan.