(UPM, Paso de los Toros, 9 October 2020, 11:00 GMT-3) UPM has signed a long-term service agreement regarding the development of rail cargo operations in Uruguay with a consortium of Christophersen Group, Cointer Concesiones and Deutsche Bahn International Operations.
Deutsche Bahn International Operations will take a leading role as the service provider in the operating company, whereas investments in rolling stock and the maintenance depot will be carried out by Cointer Concesiones and the Uruguayan Christophersen Group.
The rail operations will start after the ongoing construction of the rail line, transporting pulp from the new Paso de los Toros mill to the port terminal in Montevideo. In addition to the operations, the contract covers the design and maintenance of tailor-made special freight wagons and locomotives that meet the latest safety and environmental standards.
The service-agreement value is included in the investment frame as communicated on July 23, 2019.
UPM
We deliver renewable and responsible solutions and innovate for a future beyond fossils across six business areas: UPM Biorefining, UPM Energy, UPM Raflatac, UPM Specialty Papers, UPM Communication Papers and UPM Plywood. As the industry leader in responsibility we are committed to the UN Business Ambition for 1.5°C and the science-based targets to mitigate climate change. We employ 18,700 people worldwide and our annual sales are approximately EUR 10.2 billion. Our shares are listed on Nasdaq Helsinki Ltd. UPM Biofore – Beyond fossils. www.upm.com
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