November 1, 2017 / 5:26 PM / a year ago

UPM wraps up talks on infrastructure for new Uruguay pulp plant

HELSINKI, Nov 1 (Reuters) - Finnish pulp and paper maker UPM has concluded months of talks with Uruguay on infrastructure improvements for a new pulp plant project in the South American country.

“Now the result of the negotiations will be reviewed by both parties,” Jaakko Sarantola, UPM’s senior vice president for Uruguayan development, said in a statement on Wednesday.

UPM said it will take 10 days to review the results of the talks on the investments, which include roads and a railroad link to a deep sea port, for what would be UPM’s second pulp mill in Uruguay.

If UPM move ahead with the project it would launch a pre-engineering study and permitting process, expected to last up to two years, followed by an internal investment analysis. (Reporting by Tuomas Forsell; editing by Alexander Smith)

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