A Brazilian federal court rejected a request to suspend the environmental licensing for the $4.6 billion investment.
Empresas CMPC can move forward with its Natureza project in Brazil after the Federal Regional Court of the 4th Region rejected a bid to suspend its environmental licensing. The Federal Public Ministry had asked three regulatory bodies to halt the process.
The Natureza initiative requires an investment of $4.6 billion in Barra do Ribeiro. It represents the largest foreign investment ever undertaken by the Matte group firm.
The court ruled that the requirements for the injunction were not met. Judges noted there was no proof of serious or irreparable harm, nor evidence of an imminent unlawful act.
Empresas CMPC confirmed the decision upholds an earlier first-instance ruling, allowing regulatory procedures to advance as planned.
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