November 7, 2017 / 10:52 PM / a year ago

Uruguay, UPM ink preliminary deal for pulp plant project

MONTEVIDEO, Nov 7 (Reuters) - Finnish pulp and paper maker UPM signed a preliminary agreement with Uruguay on Tuesday for a potential 2-billion-euro new pulp plant project, the company said in a statement.

Last week the company announced it had concluded months of talks with Uruguay on infrastructure improvements needed for the plant. The deal on Tuesday lays out commitments and deadlines for reaching a final agreement, UPM said. (Reporting by Malena Castaldi Editing by Sandra Maler)

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