Nov 16, 2006. /Lesprom Network/. Metsa Botnia said it has proposed to the Latvian government to suspend its pulp mill project there as it sees it as no longer competitive. The project was a joint venture between Metsa Botnia and the Latvian government under the name of A/S Baltic Pulp, which was established in 2000, with Euro 900 million investment. Metsa Botnia also said that it is ready to sell its 67% stake in A/S Baltic Pulp. Metsa Botnia is Europe's second largest pulp producer, with 2.7 mln tonnes a year capacity. Finnish pulp and paper group UPM-Kymmene has 47% in Metsa Botnia, while M-real has 39% and Metsaliitto Cooperative has 14%. In a morning note, FIM Securities noted that Metsa Botnia will focus on Russia.