PORTLAND, Maine — A paper company says it's investing $300 million into its Wisconsin and Maine mills over the next two years.

Hong Kong-based Nine Dragons Paper said in a Monday press release that its U.S.-based subsidiary ND Paper will spend $111 million at the Maine mills. Republican Gov. Paul LePage stated that investment could spur 50 new jobs.

In June, ND Paper said it spent $175 million to buy the Rumford, Maine and Biron, Wisconsin mills and an Ohio operations center from Catalyst Paper Corp.

The company says it'll construct a greenfield recycled pulp facility to add manufacturing capacity at the Maine site. Plans also include installing a shoe press to boost a paper machine's production capacity.

Nine Dragons Paper is China's largest producer of containerboard, commonly used in cardboard boxes.