Brazil's Fibria to raise routine investment 16 pct in 2016
SAO PAULO Dec 2 (Reuters) - Brazil's Fibria SA, the world's largest producer of eucalyptus pulp, plans routine investments of 2.050 billion reais ($533 million) in 2016, up 16 percent from 1.764 billion reais this year, according to a presentation on Wednesday.
Fibria also raised its capital spending forecast for the Horizonte 2 project, which is expected to increase capacity by 35 percent in the final quarter of 2017, to 8.7 billion reais from 7.7 billion reais.
A sliding exchange rate reduced the cost of the project in U.S. dollars, however, to $2.2 billion from $2.5 billion originally, according to the presentation filed with securities regulator CVM. ($1 = 3.8440 Brazilian reais) (Reporting by Brad Haynes; Editing by Jeffrey Benkoe)
© Thomson Reuters 2017 All rights reserved.