Montes del Plata, a company owned in equal shares by Arauco and Swedish-finnish Stora Enso announced an investment of 1.9 billion dollars in Punta Pereira, an area in Colonia, Uruguay, to build a state of the art pulp mill with an estimated production capacity of 1.3 million annual tons; as well as a port and an energy generation unit based on renewable resources. This investment is part of ARAUCO’s globalization within the region and was announced in Uruguay’s Presidential headquarters, following the signature of the Investment Contract between Montes del Plata and the Government.
"As a leading forestry company in Latin America, this announcement reaffirms the road we’ve taken towards sustainable growth and globalization, through the development of new projects", said ARAUCO’s CEO Matías Domeyko.
"We’re proud of this new step in ARAUCO’s internationalization process. This is an important challenge and we hope to contribute our knowledge and experience to the development of Uruguay, a country that has implemented an active policy in the development of the forestry sector. This is a large scale project which we expect to materialize according to the high standards that characterize our investments in the region".
The mill’s construction and operation will have a relevant economic and social impact in the country. An estimated 3,200 workers will be employed during the construction phase, reaching a maximum of 6,000.
