Portucel is interested in investing in Latin America in the development of a forestry enterprise.

The news, released by the Ministry of Transport and Public Works of Uruguay, reveals that Manuel Regalado, CFO of the Portuguese company, met with Minister Víctor Rossi this week. The person in charge informed the company’s interest in building a factory in the region and added that it could be located in Uruguay.

The investment, according to the website El Economista, could reach 1.1 billion euros. The ministry also said that investors have visited several Latin American countries and will meet with several Uruguayan ministers.

Víctor Rossi also received a note from Mário Lino, his counterpart in Portugal, apologizing for not being present at the Ibero-American Meeting of Ministers of Infrastructure and Transport due to Portugal taking over the presidency of the European Union.