Montes del Plata will be supported by the Inter-American Developement Bank (IDB). The IDB has approved a $200m credit facility for the pulp mill and forestry operations that the Finnish-Chilean joint venture of Stora Enso and Arauco is planning in Punta Pereira. According to the bank, the pulp mill will contribute up to $750m to per year to Uruguay’s GDP and create a significant number of jobs. Moreover, the IDB expects to raise an additional $250m more in financing from commercial banks.
IDB to support Montes del Plata
© 2011 EUWID Europäischer Wirtschaftsdienst GmbH | All Rights Reserved.
Copyright notice The regular and systematic circulation of price tables from the EUWID Premium section is not permitted. Only one copy is permitted to be printed out for the purpose of circulation within the company. Distribution of EUWID price tables by intranet or by E-Mail within a company, throughout a group of companies, to customers, or to independent sales representatives is not permitted and constitutes an infringement of copyright law.