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Fibria Hopes to Restart Planning for Veracel II

Oct. 13, 2009 - Fibria and Stora Enso, co-owners of Brazilian pulp mill Veracel, are reportedly close to a re-start of the planning process for an expansion of Veracel, according to a news story on Papernet.

Fibria, the new company created through the merger of Aracruz and VCP, indicated it would like to resume plans to build a second pulp production line, "Veracel II," according to Carlos Aguiar, CEO of Fibria.

“We are in talks with Stora Enso, and we will submit the issue to the budget meeting of Fibria’s board in November,” Aguiar told Brazilian media last week.

In March of this year, Aracruz announced that it would postpone the Veracel II project for at least one year due to market weakness at that time. Veracel II, as originally proposed, would have a pulp capacity of 1.4 million tons per year.

Fibria's renewed interest in Veracel II comes on the heels of the recent sale of its Guaiba unit to CMPC and improved conditions in the pulp market.

Stora Enso has not commented on the possible re-start of the planning process of the project.

SOURCE: Papernet and other industry news sources

See related story:
» » Aracruz, Stora Enso Postpone Veracel Expansion (3/20/2009)




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