BrasPine to Invest US$250 Million in Rivera, Reinforcing Uruguay’s Appeal for Foreign Investment

Brazilian company BrasPine has announced a US$250 million investment to establish a forestry and timber processing facility in Rivera, northern Uruguay. The project will use locally sourced pine and manufacture value-added wood products for export. It represents one of the most significant Brazilian investments in Uruguay in recent years and further strengthens the country’s position as a strategic destination for long-term industrial investment.

The investment was confirmed by Uruguay’s Minister of Industry, Energy and Mining, Fernanda Cardona, who highlighted that BrasPine’s decision reflects confidence in Uruguay’s institutional framework and in the industrial capabilities developed in the northern region of the country.

The facility will be BrasPine’s first operation outside Brazil. Founded more than two decades ago, the company cited several factors behind its decision to invest in Uruguay, including the availability of raw materials, local expertise in the forestry and timber industry, reliable energy infrastructure, and close coordination between national and local authorities.

The project will be developed in several phases, incorporating advanced technology to produce higher-value-added products for both the Brazilian market and other international destinations. In its initial stage, the facility is expected to employ 150 people, with total employment projected to exceed 400 jobs as operations expand.

Beyond its impact on job creation, the investment is expected to contribute to regional economic development and strengthen Uruguay’s forestry value chain. The project also underscores the depth of economic ties between Uruguay and Brazil, one of the country’s most important trading partners and sources of foreign direct investment.

Over the past decade, Brazilian companies have undertaken investment projects in Uruguay totaling approximately US$730 million through the Investment Promotion Law framework (COMAP). Meanwhile, the stock of Brazilian foreign direct investment in Uruguay stands at US$4.4 billion, representing nearly 10% of the country’s total FDI stock.

BrasPine joins a growing list of Brazilian companies investing in Uruguay across sectors including hospitality, financial services, innovation, logistics, and retail, reflecting the increasing diversification of Brazilian investment in the country.

Construction is expected to begin this year. According to the Ministry of Industry, Energy and Mining, the project will contribute to the development of northern Uruguay while supporting the continued expansion of one of the country’s most competitive export-oriented industries.