Government authorities signed a contract for the concession of a free zone to the firm Paracel, in the department of Concepción, which will install a pulp mill with an investment of close to 4,000 million euros.
With this concession, Paracel joins one of the strategic service free zones in the north of the country approved by the Government. The free zone regime offers incentives for domestic and foreign investment.
The Minister of Industry and Commerce (MIC), Luis Castiglioni, pointed out that this project has been in development for about 12 years and highlighted the commitment of State institutions and local business representation. The company also has the first license granted by the ANDE for the production of electrical energy from cellulose waste.
The signing of the agreement was accompanied by the Ministers of Finance, Oscar Llamosas, and of Public Works, Rodolfo Segovia, on behalf of the National Council of Free Zones. The firm will install a paper production plant, which in its final phase will require some 400,000 hectares dedicated to reforestation.
