Fibria's Board of Directors approved the expansion plan of the Company consisting of the construction of a new line of pulp production in the city of Três Lagoas, state of Mato Grosso do Sul, called Horizonte 2 Project, as the company said in the press release received by Lesprom Network.
The Horizonte 2 Project consists in the construction of a new bleached eucalyptus pulp production line with capacity of 1.75 million tons per year and an estimated investment of R$ 7.7 billion ($2.5 billion). The startup of the new production line is projected for the 4Q 2017.
The Project will be financed by the free cash flow of the Company and financing, in accordance to the limits established on the Indebtedness Management Policy.
Fibria Celulose is a Brazilian pulp and paper company.