MONTEVIDEO – Finnish paper company UPM and the Uruguayan government are “working hard” to finalize the deal for a second pulp plant in the South American country, the firm’s senior vice president for the Uruguay Development Project said Thursday.
“We are entering the third phase where the main issues pertain to UPM’s business fundamentals, what is foreseeable and the necessary stability to develop long-term, sustainable operations,” Petri Hakanen said at a conference in Montevideo.
“We are satisfied with the progress so far and all parties have been working hard,” he said.
The UPM executive highlighted the importance of the fulfillment of infrastructure commitments in support of the prospective plant, such as construction of a railroad to transport the product to the site in central Uruguay to the port of Montevideo.
Acknowledging delays in the project, Hakanen said that the company remained confident.
UPM faces a deadline of Feb. 15, 2020, to decide whether it will go forward with a second pulp plant in Uruguay.