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Rio de Los Parajos: (Sustainable) development of a Uruguayan logging company
Project
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Signature date
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Location
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Uruguay
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Financing tool
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Financing amount (Euro)
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14413969.2
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Financing details
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Loan of USD 17,5 M
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Customer
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Forestal Rio de Los Parajos SA
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Type of customer
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Company
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Project number
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PUY1003
This information is given at the time of signature, without prejudice to any developments in the operation/project.
By acquiring FSC-certified land and plantations, Forestal Rio de los Pajaros (a subsidiary of Otegui Group) is strengthening the development of the timber industry and promoting responsible forest management in Uruguay.
Client presentation
Forestal Rio de los Pajaros (FRP) is a Uruguayan logging owned by Otegui Group. The Otegui forestry group exploits and processes timber (mainly eucalyptus), and also produces electricity via a cogeneration unit (biomass).
Project description
Proparco’s financing will allow Forestal Rio de los Pajaros (FRP) to acquire land and FSC-certified (Forest Stewardship Council) forest plantations, a label which ensures sustainable forest management.
Project impact
This project will support the development of a sustainable timber industry and will strengthen a priority sector for Uruguay’s economy. It will also contribute to creating jobs in remote areas.