UPM Pulp Mill 2nd project in Uruguay

About the project

UPM has made an investment decision to construct a new pulp mill near Paso de los Toros, in central Uruguay. It will be a 2,1 million tons greenfield eucalyptus pulp mill, representing the largest plant of UPM in the world. Besides the mill, the total investment of USD 3 billion also includes a pulp terminal in the port of Montevideo, as well as investments in local facilities in Paso de los Toros.

The pulp mill is expected to begin operations in the second half of 2022. Once operating, the new pulp mill will generate a 2% growth in the country’s GDP.

On November 7th, 2017 the Company executed an Investment Agreement with the Uruguayan Government stating investment conditions as well as promotion conditions for the parties participating in the project.


PwC Experience

PwC high quality & successful experience

PwC Uruguay has participated as one of the main professional advisors in  all the Pulp Mill Projects of the country.

Our Firm has provided support while introducing all such projects to the Uruguayan Government and providing high-level professional services to UPM, Montes del Plata (Arauco-Stora Enso) and Botnia, as well as to its subcontractors, which positioned PwC as key figure in these major projects in the country.

Our services are based on our deep knowledge and proven experience on these  projects and are aimed at helping Investment Companies and Subcontractors to achieve their objectives in terms of budget and project execution deadlines,  by optimizing local corporate structures, tax and labor schemes, as well as proving efficient assistance on migration, payroll, invoicing and all administrative support needed.

Our scope is work on value added services for successful projects for our clients.

“We have been working with the PwC team for several years and we have used various consultancy, payroll, tax and legal services. We can assure there is transversality in the provision of these services when it comes to the professionalism and commitment in each delivery, which adds up to the proactivity to anticipate future needs."

Damián Rodríguez, Human Resources Manager, Andritz Group

“The assistance received by PwC Uruguay has always been of high quality, on time, giving us the support we need in all areas for our project thanks to its multidisciplinary team, and last but not least important, with a very friendly way, which make us feel as a real team."

Valeria Aleizon, Finance Responsible, Suez Group

Relevant information for foreign entities to work in Uruguay

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