Brazilian group JBS-Friboi, a leading global exporter of meat products, has inaugurated an industrial complex for pulp production at an investment cost of 6.2 billion reais ($3.1 billion).

The ElDorado Brasil complex will have an initial production capacity of 1.5 million tons of pulp annually.

The company expects to earn 2 billion reais (some $1 billion) in revenue in its first year of operations and to double production by 2017 before carrying out a new expansion in 2021.

Chilean pulp manufacturer CMPC, for its part, said last week it will expand its factory in the Brazilian state of Rio Grande do Sul by 2015, while paper and pulp manufacturer Stora Enso Brasil and Chilean partner Copec plan to begin operations next year in Montes del Plata, Uruguay.

Brazil's Suzano, meanwhile, plans to inaugurate its plant in the northern state of Maranhao later this month. EFE