Montes del Plata has signed the loan agreements and as part of the financing arrangements, Stora Enso has signed an agreement to guarantee 50 percent of 1,354 million Dollars of loans raised by Montes del Plata. Stora Enso's share of the total guarantee will be a maximum of 677 million dollars (498 million euros).The project is financed by 900 million Dollars of export credit financing with twelve years tenor, by an A loan of 200 million Dollars with twelve years tenor from the Inter-American Development Bank (IDB), and by a B loan of 254 million Dollars with nine years tenor from commercial banks through IDB.“We welcome the support of Finnvera, Finnish Export Credit (FEC), Swedish Export Credit (SEK), IDB and other financing institutions for this exciting, strategically important project. We are also pleased with the long maturity of the credit facility,” says Markus Rauramo, CFO of Stora Enso.As announced in January, Montes del Plata will build a new 1.3 million tons per year pulp mill at Punta Pereira, in the department of Colonia, Uruguay. The total investment is estimated to be approximately 1.9 billion Dollars (1.4 billion Euros). /AA