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SÃO PAULO, Jan 28 (Reuters) - Brazilian paper and pulp maker Suzano Papel e Celulose SA agreed to buy about 750 hectares of eucalyptus forests from Eco Brasil Florestas SA for about 400 million reais ($98 million) in an effort to secure supply for a neighboring production plant.
Suzano said the land is located in the midwestern state of Tocantins and it will pay for the land in installments through 2020, the company said in a statement.
The eucalyptus will supply a processing mill that Suzano owns in the city of Imperatriz, in the northeastern state of Maranhão.
$1 = 4.1041 Brazilian reais Reporting by Priscila Jordão; writing by Silvio Cascione; editing by Guillermo Parra-Bernal and Jason Neely