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en/world-bank-approves-funding-for-botnias-controversial-paper-mill-in-uruguay#c37774

IFC and MIGA Board Approves Orion Pulp Mill in Uruguay: 2,500 Jobs to Be Created, No Environmental Harm

Author: IFC (Intl. Finance Corporation), Published on: 21 November 2006

The boards of directors of the International Finance Corporation and the Multilateral Investment Guarantee Agency today approved a $170 million investment by IFC and a guarantee of up to $350 million from MIGA for the Orion pulp mill project in Uruguay...The Orion mill, majority owned by Finnish company Oy Metsä-Botnia Ab, will be operated to the highest global standards and comply with IFC and MIGA's respective environmental and social standards.

Read the full post here

Related companies: Metsä Fibre Oy (formerly Metsä-Botnia)