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July 24, 2019
UPM to invest US$2.7 billion in a new pulp mill in Uruguay; company’s pulp capacity to rise by 50%
UPM has made the investment decision to construct a 2,1 million tonne greenfield eucalyptus pulp mill near Paso de los Toros in central Uruguay. The mill investment of USD 2,7 billion will grow UPM’s current pulp capacity by more than 50%, resulting in a step change in the scale of UPM’s pulp business as well as in UPM’s future earnings. Additionally, UPM will invest USD 350 million in port operations in Montevideo and local facilities in Paso de los Toros. The mill is scheduled to start up in the second half of 2022 ...
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