Growth opportunity

Significant boost to economy and regional development.

 

UPM has made an investment decision to construct a 2,1 million tonne greenfield eucalyptus pulp mill near Paso de los Toros in central Uruguay. Besides the mill, the total investment of USD 3 billion also includes a pulp terminal in the port of Montevideo as well as investments in local facilities in Paso de los Toros.

 
 

Latest developments

  • The project is proceeding at full speed according to the planned schedule.
  • On 15 May, 2020, UPM and the Government of Uruguay signed a memorandum of understanding on pending items related to the project. This further strengthens the implementation of the project and existing operations in Uruguay as well as the local economy. Link to the document available at https://www.presidencia.gub.uy/comunicacion/comunicacionnoticias/memorando-entendimiento-upm-gobierno
  • The first housing blocks built for the mill construction workers in Paso de los Toros are complete and occupied by local workers from several Uruguayan companies. Construction of further housing continues in other locations in nearby communities.
  • At the pulp mill construction site, fencing and lightning works are finalised while earth moving, road works and civil works are ongoing.
  • At the pulp terminal in Montevideo port, the first phase of dredging and back filling of the area are completed. Pier construction and piling are ongoing.
 
 
 
 

Significant boost to economy and regional development

 

World class pulp mill in central Uruguay