Portucel Moçambique - Sociedade de Desenvolvimento Florestal e Industrial, Limitada is currently 100% held by Portucel and aims to develop an integrated project of forest, pulp and energy production in that country. The project is now in the beginning of forestry development and comprises, in the early stage, the plantation of approximately 40 thousand hectares of sustainable eucalyptus plantations until the end of 2016.
IFC is a member of the World Bank Group and is the largest global development institution focused exclusively on the private sector in developing countries.
IFC is already cooperating with Portucel Moçambique in providing consultancy services in the
development of forestry operations, particularly with the planning of actions to include local communities, developing the respective investments and helping to grow the business community associated with the project. With this agreement, IFC will also become a relevant financial partner for Portucel.
IFC´s participation will be materialized through the subscription of 20% of Portucel Moçambique´s shares. The referred agreement is subject to the fulfilment of usual conditions for this kind of operation, which should be fulfilled in the course of the next 3 months. This participation will represent, in the initial stage, an investment up to $30.4 million.
