Release date: 29 July 2003
Promoter – Financial Intermediary
Stora Enso oyj (Finland) and Aracruz Cellulose S.A. (Brazil)Location
Description
The project concerns the construction and operation of a large non-integrated, pulp production mill, based on eucalyptus plantations.
Objectives
To contribute to the country's efficient uses of domestic natural resources and positively impact the national economy, creating employment and generating income, while also supporting an EU based company in its development in South America.
Comments
Manufacture of Pulp.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 70 million
Total cost (Approximate amount)
USD 858 million
Environmental aspects
The necessary licences are being obtained from Brazilian Authorities, with Environmental Impact Studies and Public Consultations to be carried out in compliance with Brazilian legislation. The mill design is expected to be in line with Best Available Technology, in line with IPPC EU Directive.
Procurement
In line with EIB guidelines for private sector projects.
Status
Signed - 18/12/2003
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).