Aracruz Mulls $2.4bn Cellulose Investment

Brazilian cellulose producer Aracruz has completed preliminary studies to install a new cellulose production facility in the Governador Valadares region of the state of Minas Gerais, requiring an investment of $2.4bn, says the company. The new facility could process 1.4m tons of cellulose per year, according to Aracruz. The project is pending approval of Aracruz’s board and could be operational by 2015. The firm also says the Governador Valadares region presents favorable conditions for two more facilities of this type.