Fibria starts construction of the Horizonte project
Fibria expand its Tres Lagoas unit in the state of Mato Grosso do Sul, Brazil.
The amount invested in the Horizonte 2 project will reach approximately USD 2,5 billion and draw on own funds from the company's strong cash generation as well as third-party funding from various sources, such as the Brazilian Development Bank, BNDES, export credit agencies, the Midwest Development Fund, commercial banks and capital markets. It is one of the largest private investments in Brazil focused on the export market.
Fibria has already obtained the environmental licenses required for expanding the Três Lagoas unit, including construction permits.
“The expansion of the Três Lagoas unit is in keeping with the strategy of growth with discipline of Fibria, which sees a window of opportunity for the commissioning of new pulp production capacity in the market in 2018. It is with great pride that we make this major investment in Brazil, which focuses on the export market and will contribute to Brazil’s trade balance, create new jobs, improve quality of life and promote local, regional and national development,” said Fibrias CEO, Marcelo Castelli.