SAO PAULO, Oct 26 (Reuters) - Brazilian pulp and paper producer Suzano Papel e Celulose SA plans to invest 1.7 billion reais ($545 million) next year after cutting 2016 investments, Chief Executive Walter Schalka said on a Wednesday call to discuss quarterly earnings.

Suzano plans to invest 1.9 billion reais this year, Schalka said, down from an earlier forecast of 2.1 billion reais. He said he was putting off the expansion of its Mucuri unit to 2018 and may consider cutting production next year.

($1 = 3.12 reais) (Reporting by Alberto Alerigi Jr.; Writing by Brad Haynes; Editing by Daniel Flynn)