Indian investment in Mozambique to top $13b by 2028 – Diplomat
Portucel Mozambique will build a new pulp mill in Ile-Namarroi, in Zambézia, Mozambique. According to the announcement, the mill will have a production capacity of 1.5Mt and a biomass power generation plant.
The total investment is about USD 3 billion. Portucel will finance 80% of the project, while the remaining 20% are expected to be covered by the International Finance Corporation (IFC) of the World Bank group.
Portucel Mozambique is controlled by The Navigator Company. The new plant expected to be operational by 2023, will more than double the global pulp production capacity of The Navigator Company (currently 1,440ktpa).
About Portucel Mozambique:
The company was founded in 2009 by The Navigator Company (the former Portucel Soporcel Group). It is responsible for setting up Mozambique’s largest integrated forestry project for producing paper pulp and energy.Source: IHB