The total investment is estimated at USD 1,900 million. The Stora Enso and Arauco companies are 50-50 shareholders in this joint venture. The project comprises a state-of-the-art pulp mill, a port and a power-generating unit based on renewable resources. The company estimates the new mill will be operational in the first months of 2013. Eucalyptus fiber will be mostly sources Montes del Plata`s own forestry plantations in nine departments throughout the country. The announcement for this investment was made at the Office of the President of Uruguay along with top national officials and representatives Montes del Plata. We are pleased to see this investment becoming reality. It is the result of hard work by the Montes del Plata team, the support of its shareholders (Stora Enso and Arauco) as well as seamless cooperation with national and Department of Colonia officials. Today, a new stage begins where we will put forth our best effort to build a project of excellence, said Erwin Kaufmann, Montes del Plata general manager. The new undertaking will be the largest private investment in the history of Uruguay. The construction and operation of the cellulose mill will have a significant economic and social impact on the country. During the construction phase, an average of 3,200 workers will be employed. Peak employment will reach 6,000. The project will also support the economic and social development of Colonia and the neighboring community of Conchillas, where the company is committed to excellence in environmental performance and to working together with local officials and the community to contribute to sustainable development.