UPM plans to invest Euro 2 billion in a new mill to be located near the city of Paso de los Toros in Uruguay. The new mill would have capacity to produce about 2 million tonnes of eucalyptus pulp annually.  A year ago UPM and the government of Uruguay signed an investment agreement which outlines the local prerequisites for a potential pulp mill. The agreement details the roles, commitments and timeline for both parties as well as the relevant items to be agreed prior to the final investment decision. Currently UPM is carrying out technical studies and applying ...