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Montes del Plata: Promoting Renewable Forestry Practices
IDB is supporting Montes del Plata Group through a $200 million loan to build and operate a eucalyptus pulp plant and a biomass electricity plant.
The largest private sector investment in Uruguay’s history (approx. $2 billion), it follows strict environmental and social standards for renewable forestry..
- 6,421 jobs created during the construction peak in March 2011. At the operational stage, Montes will employee 500 full-time workers.
- Highly specialized training to senior engineers, supervisors and operational staff.
- 160 MW of renewable energy produced once operational (approx. 70 MW exceed internal needs and will be supplied to the national grid and other industrial entities).
- Approximately $750 million will go to Uruguay’s annual GDP and will generate roughly $700 million in exports each year (approx. 11% percent of Uruguay’s total exports in 2009)
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