The International Court of Justice in the Hague yesterday, Thursday, ruled in favor of Uruguay in a dispute with neighboring Argentina over planned pulp and paper mills on the border region. The court rejected Argentina’s claims that the mills were an imminent threat to Argentina’s environment and will not act to stop construction of the plants. The $1.7 billion project along the River Uruguay, which separates the two countries, represents the largest ever single foreign investment in Uruguay. Presiding judge, Rosalyn Higgins, said however that the Court would look further into the dispute and that, by not ordering a suspension of work: “Uruguay necessarily bears all risks relating to any finding on the merits that the court might later make”.
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