Fibria and Stora Enso to start planning Veracel II
Oct 13 2009 Fibria and Stora Enso, co-owners of Brazilian pulp mill Veracel, are reportedly close to a re-start of the planning process for an expansion of Veracel, the so called Veracel II project.
Fibria, which is the biggest pulp producer in the world and was created through the merger between Aracruz and Votorantim, might resume the Veracel II project next year, according to Carlos Aguiar, CEO of Fibria.
“We are in talks with Stora Enso, and we will submit the issue to the budget meeting of Fibria’s board in November,” Aguiar told Brazilian media last week.
It is assumed that Fibria will use, to Veracel II, part of the more than one billion Dollars the company got by divesting the Guaiba plant to the Chilean company CMPC recently.
According to Carlos Aguiar, plantations for Veracel II could bed resumed in January next year. If then the industrial investments are made in 2011, the pulp production could start in 2013.
Stora Enso has not commented on the possible re-start of the planning process, but it is well known that the Veracel II project has high priority within Stora Enso.
Issued by: Papernet.SE
Issue date: October 13, 2009
Link to Article: Origin of text