Portugal’s Portucel plans second factory in Mozambique

16 August 2010

Lisbon, Portugal, 16 Aug – The Portuguese company Portucel may eventually build a second paper pulp factory in Mozambique’s Manica province, reports the Portuguese daily Jornal de Negocios.

The company’s intention involves an additional investment of US$2 billion (1.5 billion euros), which will be added to the 1.79 billion euros already announced by the company for projects in that country.

Portucel’s investments Mozambique would then total 3.29 billion euros.

The Portucel group has already obtained permission to build an industrial unit in the Zambezia region which is associated to the concession of a forest area of 173,000 hectares.

The first investment is already under way and involves US$1.75 billion (1.36 billion euros) to build a factory and US$550 million (428 million euros) to be applied in forestry-related activities.

These investments will be made in a phased manner until 2025, at an average amount of around 49 million euros per year. (macauhub)