Phoenix Paper to invest $200 million in KentuckyChristian Fernsby ▼ | August 13, 2019
Phoenix Paper plans to invest $200 million to build a paper recycling facility on the grounds of the Wickliffe mill it purchased only a year ago.
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With an estimated 700,000-ton annual capacity, the new facility will receive post-consumer cardboard and mixed paper from various regional locations.
Following cleaning and screening of the raw material, the stock will be formed and dried into industrial pulp and finished paper.
Current design and equipment specifications are being finalized with construction to begin before the end of the year.
The project is expected to be completed within 14 to 18 months.
Phoenix Paper’s expansion comes as the Bevin administration seeks to attract investment from China.
Amid national-level tensions, Kentucky has led the way in laying groundwork for future business and job-creation opportunities between the two countries, which respectively represent the world’s largest and second-largest economies. ■