IDB Invest, IFC, Finnvera and JP Morgan partner to support Arauco’s Sucuriú Greenfield Project

Celulosa Arauco, one of the global leaders in producing and managing renewable forest resources, will receive a comprehensive financial package of 220 million dollars from IDB Invest, in partnership with the International Finance Corporation (IFC, part of the World Bank Group), the Finnish specialized finance company Finnvera, and the international bank J.P. Morgan, to support the Sucuriú Greenfield Project in the state of Mato Grosso do Sul, Brazil.

The financial package, coordinated by J.P. Morgan, includes a 1.25 billion dollars loan co-led by IDB Invest and the IFC, with the participation of eight additional banks, as well as 970 million dollars in Export Credit Agency financing guaranteed by Finnvera.

The Sucuriú Greenfield Project will employ cutting-edge technology and integrate renewable energy generation to develop a state-of-the-art pulp mill with an annual capacity of 3.5 million metric tons of bleached hardwood kraft pulp. During its operational phase, it will generate 400 MW of renewable energy.