May 20, 2014. /Lesprom Network/. Portucel S.A. plans expansion of the production capacity at the Cacia pulp mill, with a global estimated investment of Euro 56.3 million, as the company said in the press release received by Lesprom Network.

Portucel S.A. was notified of the approval of a global package of tax and financial incentives by the Portuguese Agency for Foreign Commerce and Investment. The approved incentives include Euro 11.260 million of reimbursable financial incentives and Euro 6.756 million of tax incentives.

The agreement contemplates a realization premium, which corresponds to the conversion of up to 75% of the reimbursable incentive into non-reimbursable incentive, subject to the completion of a certain number of objectives.

The time limit to complete this investment project is June 30th 2015.