SAO PAULO , Jan. 24, 2013 (RISI) -
Chilean pulp producer Empresas CMPC's board today approved a capital increase of $500 million and authorized the company to issue approximately 155.6 million new bonds. The company said last month it will spend up to $750 million on capital projects in two stages over the next four years: the $500 million approved today during the first half of 2013, and the remaining $250 million within the following three years, according to company or project needs.
The full amount will be applied to CMPC's pulp and paper projects across Latin America. CMPC is working on its 1.3 million tonnes/yr bleached eucalyptus kraft (BEK) second pulp line at the Brazilian CMPC Celulose Riograndense unit, located in Guaíba city, Rio Grande do Sul state, southeast Brazil. The Guaíba facility, which currently produces 450,000 tonnes/yr of BEK, will likely start up the new capacity in the first quarter of 2015.
Pulp & Paper News Service subscribers - click here to read the full article.
Not a subscriber?
