Uruguay unveils US$4 bln Portucel investment

by Dave

International Herald Tribune

Uruguay’s president says a Portuguese paper company will spend more than US$4 billion to build a pulp plant and port in Uruguay.

President Tabare Vasquez says the investment from Portucel Soporcel Group will stem contagion from the world financial crisis.

The company plans to build a paper and cellulose plant and a deep-water port in an as-yet undisclosed location.