Spanish energy company Repsol on October 13 signed an investment deal with the Portuguese government to expand its Sines industrial complex. The company will invest €657 million ($762 million) in the expansion slated for startup in 2025. Portugal has considered the project as one of its potential national interests expected to contribute significantly to the country’s economy. The government has also agreed to grant the project tax incentives of up to €63 million ($73 million).
The expansion will include the construction of a new linear polyethylene (LPE) and polypropylene (PP) plant, with an individual capacity of 300,000 tons/year. The plants will produce 100% recyclable materials suitable for highly specialized applications aligned with the energy transition in the pharmaceutical, automotive, and food industries. The project is expected to open more than 1,000 jobs during the peak construction phase, as well as 75 direct jobs and around 300 indirect jobs once it is operational.
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Published on October 19, 2021 5:34 PM (GMT+8)Last Updated on October 19, 2021 5:34 PM (GMT+8)
