Portucel expands into wood pellet market

Portucel S.A, a Portuguese pulp and paper company, will build a wood pellet production plant in South Carolina, US, according to reports.

With an annual production capacity of around 460,000 tonnes and costing in the region of $110 million (€88 million) to build, construction on the facility is due to begin next year. It is slated to be up and running towards the end of 2016.

Portucel has already secured long-term supply contracts for around 70% of the plant's wood pellets.