Brazil: Portuguese paper company Portucel considers investment in Brazil

11 July 2008

Sao Paulo, Brazil, 11 July – Portuguese pulp and paper company Portucel is considering na investment in the Brazilian state of Mato Grosso do Sul after company officials met with the region’s governor, André Puccinelli, last week.

According to Portuguese financial newspaper, Jornal de Negócios, the Brazilian press has reported that the investment is expected to total US$2 billion for installing a new factory in the region.

Contacted by the paper, a company spokesperson confirmed the meeting with the governor “with the aim of analysing the feasibility of carrying out studies to assess the possibility of moving ahead with a group investment in the region.”

The same source added that the company had been studying investment opportunities in Portugal and other markets.

Website “Painel Florestal” cited the managing director of Raiz, the institute of forestry and paper research institute, of which Portucel is a majority shareholder, Serafim Tavares, who said that Portucel expected to carry out two or three new investments outside Portugal, with Brazil seen as a “big possibility.”

In Brazil, Mato Grosso do Sul, could be chosen as the location for the new investments if the studies carried out confirm the company’s requirements. (macauhub)