BRAZIL (From news reports) -- Eldorado Brasil Celulose has launched a significant R$25 ($4.81) billion investment for a new production line in Três Lagoas, Mato Grosso do Sul.

Announced in São Paulo at the Esfera Brasil event, this development aims to transform the regional economy and enhance the agribusiness sector.

The project includes constructing a 90 km railway to Aparecida do Taboado, improving transport and distribution capabilities crucial for expansion.

Wesley Batista, head of J&F which controls Eldorado, confirmed the investment as part of a broader $9.62 billion initiative spanning several sectors.

This includes $0.96 billion in mining and $2.88 billion in various manufacturing projects. Celulose, extracted from plant cells, is vital for producing paper and textile fibers.

Eldorado plans to increase its annual output by 2.6 million tonnes from the current 1.8 million tonnes with this new line.

This expansion will enhance its market presence and improve job prospects for its workforce of 5,000.

Internationally, Eldorado exports to over 40 countries and operates a dedicated terminal at the Port of Santos with a capacity for 3 million tonnes of cellulose annually.

Last year, the company achieved a net profit of $0.44 billion, underlining its robust financial health.

Located in Três Lagoas, Eldorado's operations are poised to benefit from the area's strategic benefits.

This investment underscores Eldorado's commitment to sustainable growth and community development.

As the project progresses, it promises new jobs, improved infrastructure, and enhanced industrial practices, strengthening Eldorado's leadership in the global cellulose market.

Background - Batista's $4.8 Billion Eldorado Venture Boosts Brazil's Agribusiness

J&F Investimentos is a prominent Brazilian investment holding company, owning significant stakes in various sectors including food, energy, and infrastructure.

Wesley Batista, an influential figure in Brazilian business, serves as the head of J&F and has played a crucial role in expanding the company's portfolio.

Under Batista's leadership, J&F has made strategic investments aimed at enhancing Brazil's economic landscape and global trade connections.