SAO PAULO, Nov 4 (Reuters) - Fibria Celulose SA, the world’s largest pulp producer, cut on Wednesday the investment budget for the expansion of the Tres Lagões plant by 12 percent.
In a securities filing, the Brazilian company said the budget for the plan was revised down to about $2.2 billion from $2.5 billion previously. Financing for the project will come from export credit and development agencies, bank loans and the sale of asset-backed securities, the filing added.
Average financing costs for the expansion plan will be of about 2 percent annually measured in U.S. dollars, the filing said. (Reporting by Guillermo Parra-Bernal Editing by W Simon)