Suzano Plots $2bn Expansion

Brazilian pulp and paper giant Suzano is planning a $2bn expansion of its cellulose capacity, CEO Antonio Maciel tells LatinFinance. The project, which is likely to be announced in the coming months, should add two new lines of cellulose, Maciel says. Financing for the initiative will be done with cash on hand, suppliers and export credit agencies. The new project, along with Mucuri, which is already underway, will help Suzano boost cellulose production to 1.7m tons by 2009, from 974,000 tons in the last 12 months, says the company.