Portucel invests US$2.3 million in Mozambique to produce paper pulp
24 March 2015
Portucel Portuguese company will this year invest US$2.3 million in eucalyptus plantations in the central provinces of Manica and Sofala that will be used to produce paper pulp and energy in Mozambique.
According to Mozambique’s news agency AIM the reforestation project could create more than 7,500 jobs for Mozambicans in the region.
The Mozambican government has provided about 350 hectares of land to Portucel for the implementation of the project, which will be 20 percent funded by the World Bank, through the International Finance Corporation (IFC), which agreed to support and sustain the investment.
“Portucel is operating for the second time in Mozambique, and the first time in 2013 it created a total of 7,000 new jobs and ensured the food security of more than 25,000 families, supporting the activities of small farmers and creating favourable conditions for small and medium enterprises in central Mozambique,” aim reported.