The Chilean pulp and paper company CMPC Celulose Riograndense Ltda is investing in new equipment at its mill in Guaíba, Brazil with the aim of increasing production capacity, improving efficiency and implementing environmental improvement measures. The project includes new equipment and the rebuild of some of the existing ones. The investments will enable the coal boiler to be decommissioned, thus reducing carbon dioxide emissions.

CMPC is a global company with over 20,000 employees that manufactures products derived from pulp sourced from sustainable and certified plantations, as well as from recyclable materials. The company manufactures products including cellulose, wood products, packaging materials, hygiene products and tissue paper.

The equipment will be supplied to CMPC by the Nordic technology company Valmet. Valmet is a leading global developer and supplier of process technologies, automation and services for the pulp, paper and energy industries.

The financing has been provided in the form of an export credit from SEK together with a guarantee from the Swedish Export Credit Agency (EKN). The transaction was arranged by Citi.

SEK is proud to support our esteemed supplier Valmet and to be a continuous finance partner to CMPC together with, in this transaction, Citi as arranging bank. This project includes several positive environmental and social impacts which we are happy to support.

Marica Bixo, Director Export and Project Finance

During the project phase, the project will create more than 2,500 new jobs in the city of Guaíba in the south of Brazil and in total 7,500 jobs throughout the execution of the project. The aim is to hire 30 percent of the workforce locally in Guaíba and 70 percent from the Rio Grande de Sul region, made possible through an extensive training program. Moreover, materials and services will largely be sourced from local suppliers.