BNDES will contribute $ 4.17 billion in new Klabin's factory

The Banco Nacional de Desenvolvimento Econômico e Social (BNDES) must contribute a total of $ 4.17 billion in the project Klabin's Puma which comprises the installation of a pulp mill in the town of Ortigueira in Paraná.
The Bank's Board has already approved a funding of $ 3.37 billion in the largest manufacturer of packaging papers in the country, with a view to the construction of the unit. In addition, the BNDES is completing negotiations to contribute a further r $ 800 million in the project, through subscription of simple debentures to be issued by the company.
The factory of Ortigueira will have a production capacity of 1.5 million tons of pulp per year, of which 1.1 million tons of short fiber and 400 thousand tons of long fibers, which will be converted into cellulose "fluff" (used in disposable diapers and tampons).
The credit, according to the banco de fomento, represents 43.6% of Klabin's total investment in the project, of R $ 7,728 billion. This amount included $ 5.8 billion of industrial investment, $ 800 million in taxes recoverable on the equipment, $ 600 million in infrastructure and $ 500 million of working capital.
"The funding includes the deployment of logistics infrastructure and energy necessary for the project, in addition to social investments in areas of influence of the company," said the Bank.
According to the BNDES, the investments in the factory will generate 1.4 thousand direct jobs from the beginning of operation, in the first quarter of 2016, and up to 8.5 thousand jobs, between direct and indirect, during the works.
The project encompasses the construction of a new warehouse in the port of Paranaguá, with storage capacity of up to 80 thousand tons of pulp. The plant will be self-sufficient in power generation and will produce 155 MW of surplus from the burning of wood wastes.