- Associated Press - Tuesday, December 16, 2014

GREENWOOD, S.C. (AP) - A Portuguese paper company is investing $110 million in a new Greenwood plant that will make wood pellets from material left over from timber production.

The company, Portucel, S.A., announced Monday that the new plant is expected to create 70 new jobs.

The wood pellets are used in generating power. The plant is expected to have a capacity of 460 thousand tons of pellets per year once it is operational.

The state Department of Commerce said that hiring for new jobs at the plant is expected to begin next month.

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