Portugal’s Portucel/Soporcel group to invest 2.3 billion euros in Mozambique

5 March 2010

Maputo, Mozambique, 5 March – Portugal’s Portucel/Soporcel group plans to invest 2.3 billion euros in Mozambique by 2025 and after that a further 48 to 49 million euros each year, the company’s chief executive in Mozambique said Thursday in Maputo.

During a conference on renewable energy that brought together businesspeople from Portugal and Mozambique, Pedro Moura said that the pulp and paper factory that the company planned to build in Mozambique would make the country one of Africa’s largest suppliers of those products.

In December, the Mozambique government granted the company the right to use 173,000 hectares of land in Zambézia province, whilst an additional area of 220,000 hectares is still under approval.

Moura added that the company was already in the testing phase and planned to produce 30 million eucalyptus trees per year, as well as opening up 3,000 kilometres of forest pathways. (macauhub)