Finnish company UPM said Tuesday it will go ahead with plans to invest more than $3 billion to build a pulp plant in Uruguay.

It said construction will start in the second half of 2022.

The company will spend $2.7 billion to set up the plant itself and $350 million on river port and logistical facilities.

The company already operates one such plant in Uruguay. It was highly contentious because it is located on the Uruguay River, which forms the border with Argentina, which sued over the potential fallout to the waterway.

The International Court of Justice sided with Uruguay and declined to halt construction of that facility.

Uruguay's left-leaning government negotiated with UPM over the proposed second plant.

Terms of these talks were never disclosed.

Environmentalists have raised concerns over the effect on the river and opposition parties have questioned what economic and labor concessions the company may have granted to UPM.

Related Links
Forestry News - Global and Local News, Science and Application

Tweet

Joshua trees facing extinction
Riverside CA (SPX) Jul 22, 2019
They outlived mammoths and saber-toothed tigers. But without dramatic action to reduce climate change, new research shows Joshua trees won't survive much past this century. UC Riverside scientists wanted to verify earlier studies predicting global warming's deadly effect on the namesake trees that millions flock to see every year in Joshua Tree National Park. They also wanted to learn whether the trees are already in trouble. Using multiple methods, the study arrived at several possible outc ... read more