Finland's UPM on Tuesday made the investment decision to construct a 2,1 million ton eucalyptus pulp mill near Paso de los Toros in central Uruguay.
Finland's UPM and the Government of Uruguay have signed an investment agreement, which outlines the local prerequisites for a potential pulp mill investment. The agreement details the roles, commitments and time-line for both parties as well as the relevant items to be agreed prior to the final investment decision, reported the Finnish company in a release on Tuesday.