The finance will be provided by three banking organisations, the National Economic and Social Development Bank, the European Investment Bank and the Nordic Investment Bank.
The total investment for the project is 688m, and the rest of the funding will come from its 50/50 joint shareholders Swedish-Finnish paper manufacturer Stora Enso and Brazils Aracruz Celulose.
The Veracel mill will be one of the largest single line units in the world, and will have a capacity of 900,000 tonnes of bleached eucalyptus pulp per annum, which will be produced from its own forest plantations.
The project, which is scheduled to begin in mid-2005, will create up to 10,000 direct and indirect jobs.
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