Latinnews Daily - 31 October 2017

Uruguay: The office of the presidency has announced that Finnish firm UPM has asked the government led by President Tabaré Vázquez for a 10-day extension on the deadline for signing off on the agreement to build a new pulp mill in central Uruguay. The Vázquez government and UPM have been negotiating a contract agreement since 2016 for the US$4bn project, which has been billed as the largest ever investment project in Uruguay’s history. The two sides announced that they had reached an agreement in principle on 20 October and that a final deal would be announced by the end of the month. However, an official statement said that the firm had requested more time to analyse the deal.

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