Jan 04, 2011. /Lesprom Network/. Nine Dragons Paper Holdings Ltd. inked an agreement with the Shenyang government to spend $1.5 billion to build a production base in Shenyang, the capital of Liaoning Province, as China Knowledge reported. The paper production base, which will be located in Xinmin county, will have a designed annual output capacity of 3 million tons, of which 600,000-ton capacity is expected to be achieved upon the completion of first phase project in 2013. Nine Dragons Paper Holdings will have a group's combined output capacity of 16 million tons after the completion of whole project.