Indonesian billionaire Sukanto Tanoto’s Royal Golden Eagle (RGE) is making significant investments in China, with plans to construct an 11 billion yuan facility in Shandong province to manufacture lyocell fiber. The facility, expected to produce 600,000 tonnes of lyocell fiber annually, will be a key raw material for paper and textiles. This move follows RGE’s recent acquisition of Chinese tissue paper giant Vinda International Holdings, consolidating its presence in the country.
RGE has been steadily increasing its operations in China, with its unit Asia Symbol already operating manufacturing plants in Shandong and Guangdong provinces. These facilities produce a wide range of products including pulp, fine paper, paperboard, and tissue paper. The company’s expansion in China is part of its broader strategy to seize opportunities in the rapidly growing Asian markets and strengthen its position in the global industry.
In addition to China, RGE has been focusing on expanding its presence in Brazil. In recent years, the company’s unit Bracel acquired Brazil’s OL Papeis and announced a $500 million investment to develop tissue paper and pulp facilities in the country. These strategic investments underscore Tanoto’s vision to diversify RGE’s operations and tap into emerging markets with significant growth potential.
With a net worth of $3.1 billion, Tanoto is the owner of RGE, a diversified conglomerate with assets exceeding $35 billion in the pulp and paper, palm oil, and energy sectors. The company employs over 70,000 people globally and continues to broaden its portfolio across various industries. Tanoto’s real estate arm, Pacific Eagle Real Estate, has also expanded its property holdings in China, Singapore, and Europe, reflecting his commitment to exploring opportunities in the real estate sector.
Moreover, Tanoto is actively engaged in discussions with Singaporean billionaire Kwek Leng Beng, who controls real estate giant City Developments, to explore potential real estate ventures in the U.K. This partnership could further enhance RGE’s global footprint and open up new avenues for growth in the real estate market. Tanoto’s strategic collaborations and investments in various sectors demonstrate his entrepreneurial acumen and commitment to pursuing opportunities that align with RGE’s long-term growth objectives.
The expansion of RGE’s operations in China and Brazil, coupled with its continued investments in key sectors, position the company for sustained growth and competitiveness in the global market. Tanoto’s leadership and vision have propelled RGE to become a prominent player in the industry, driving innovation and expansion while creating value for stakeholders. As the company continues to expand its footprint and pursue strategic partnerships, RGE is poised to capitalize on emerging opportunities and solidify its position as a leading player in the international business landscape.
