January 26, 2017 / 11:46 AM / a year ago

UPDATE 1-Finland's UPM denies quick pulp plant deal in Uruguay

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Jan 26 (Reuters) - Finnish pulp and paper maker UPM-Kymmene Oyj said on Thursday it was in talks with Uruguayan government on infrastructure, but denied any plans to kick off a new pulp mill project in the country.

* Finnish broadcaster YLE, citing local media in Uruguay, reported earlier on Thursday that UPM and authorities in the Latin American country were close to reaching a deal on UPM’s second pulp mill in the country that would cost in total $4 billion

* UPM said talks had proceeded but that starting an investment project “would require a satisfaction of several requirements, one of them being a positive conclusion of the negotiations... on the infrastructure development”

* “At present, the discussion have not been concluded and a number of issues remain unsettled”

* The company said in July that Uruguay could be a competitive alternative for addressing its pulp opportunities (Reporting by Tuomas Forsell, editing by Jussi Rosendahl) ))

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