UPM Pulp Matters 1/2023

F IBRE PHENOMENA

A t the end of May 2023 a historic chapter has just concluded. The largest ever investment in the history of UPM, the Finnish forest industry, and Uruguay, has culminated in the start-up of the new UPM Paso de los Toros pulp mill. As Petri Hakanen , SVP of UPM’s Uruguay Development Project states, even though similar mills are being constructed around the world, this is a unique, transformative step for UPM, since the company’s pulp business will grow by almost 60%.

“Also, I would like to correct the misconception that this project has simply been about building a new mill. It is, of course, true that we have constructed the world’s largest single line pulp mill in central Uruguay, but this has in fact been a project to develop a new concept based on an existing platform, our eucalyptus plantations and the Fray Bentos mill,” Hakanen points out. Besides the 2.1 million tonne greenfield eucalyptus pulp mill, the project has included building a pulp terminal in the port of Montevideo, as well as local infrastructure and facilities such as roads and housing. The total investment adds up to USD 3.47 billion. Hakanen has invested a lengthy period of his life in the project. For the past four-and-a-half years he has been located on site in Uruguay – and considers the experience a once in a lifetime opportunity.

”NONE OF THIS WOULD HAVE BEEN POSSIBLE WITHOUT THE COMMITMENT OF AN EXCELLENT TEAM,” SAYS PETRI HAKANEN.