Portucel's US$2.3B project involving eucalyptus plantation, paper and energy production in Mozambique gets support from World Bank's IFC, which will provide advisory services, such as social and environmental impact studies, community development plans

Debra Garcia

LOS ANGELES , October 21, 2013 (Industry Intelligence) – Grupo Portucel Soporcel has received support for its eucalyptus plantation, paper and energy production project in Mozambique from the International Financial Corp. (IFC), reported Macauhub on Oct. 21.

The IFC, which is an arm of the World Bank that offers help in the private sector, will provide advisory services, This includes social and environmental impact assessments, community planning, and commitments to the community.

Portuguese pulp and paper group Portucel’s project in Mozambique will cost an estimated US$2.3 billion and create about 7,500 jobs in the provinces of Manica and Zambézia, Macauhub reported.

The mill in the plans will specialize in producing cellulose pulp made from eucalyptus trees, according to Industry Intelligence’s archives. Portucel expects to complete logistics studies for the mill by the end of this year.

The primary source of this article is Macauhub, Macau, China, on Oct. 21, 2013.

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