Jun 26, 2008. /Lesprom.com/. Arauco, the forestry unit of Chilean industrial conglomerate Copec COP.SN, said that it was planning to issue about $398 million worth of bonds to optimize credit conditions and finance operations, Reuters reported. Parent company Copec said in a note to the markets regulator that it would issue bonds in 10-year and 30-year terms. The bonds "could be issued in pesos, in inflation-adjusted currency units (UF), or in U.S. dollars," the company said. Copec, one of the world's biggest wood pulp exporters, said earlier this month it planned to spend some $70 million on a project that will allow it to guarantee energy supplies to one of its largest pulp plants and sell excesses to the central power grid. The project involves installing a fourth boiler and a 25 megawatt generator at Copec's COP.SN Aruaco pulp plant. The new installation is scheduled to begin operating in the second half of 2009. Arauco has production facilities in Chile, Argentina, Brazil and Uruguay.