On Monday 22, businessman Wesley Batista, founder and shareholder of J&F Investimentos, owner of Eldorado Brasil Celulose, announced that the company plans to invest R$ 25 billion to build a new pulp mill in the municipality of Três Lagoas, in Mato Grosso do Sul. The announcement was made during the executive’s participation in the Brasil Hoy seminar, organized by Esfera Brasil, in São Paulo.
“We have made several advances in the legal field and in the clarification of what this dispute involves. We are in a position to say that the project will go ahead. It is going to move forward and we are going to allocate this R$ 25 billion in investment for operationalization,” said Batista.
According to the executive, with the construction of a second line, Eldorado’s annual pulp production will increase from 1.8 million to 4.4 million tons. Around 10,000 jobs will be created during the construction phase of the new mill and another 2,000 job opportunities after its completion.
In addition to a second pulp mill in MS, Brazil, the company also plans to build a 90-kilometer railroad between the municipalities of Três Lagoas and Aparecida do Taboado.
Despite the statement made by Wesley Batista, Eldorado has been the protagonist of a legal dispute, with proceedings in several courts, between J&F Investimentos and Paper Excellence, for the control of the company.
