Spain: 100 % Recyclable Polymeric Materials Repsol to Invest 762 Million Dollars for Expanding its Sines Industrial Complex in Portugal
Repsol has entered into an investment contract with the Portuguese Government for expanding its Sines Industrial Complex on the Portuguese coast. Claimed to be the largest industrial investment in the country in the past 10 years, the complex will also include the construction of a linear polyethylene unit and a polypropylene unit, each with an annual capacity of 300,000 tons.
Madrid/Spain – Repsol Chairman Antonio Brufau and CEO Josu Jon Imaz recently attended the signing ceremony of the investment contract with the Portuguese Government, presided over by Prime Minister António Costa, and also attended by the Minister of State, Economy, and Digital Transition, Pedro Siza Vieira.
Repsol will invest 762 million dollars in the expansion of its Sines Industrial Complex, located on the Portuguese coast. This project has been considered by the Portuguese Government as an initiative of Potential National Interest (PIN), a qualification reserved for investments that make a significant contribution to the country's economy, and it will benefit from tax incentives for the investment of up to 73 million dollars.
During his speech, Repsol's Chairman, Antonio Brufau, stated that "industry and technology are two essential levers for a country's competitiveness and economy". He also stressed that "private initiative and public policies must go hand in hand in the best possible way to achieve a successful energy transition that will generate economic activity and, at the same time, reduce emissions."
The expansion of the Sines Complex will be the largest industrial investment made in Portugal in the last 10 years. Repsol will build a linear polyethylene (LPE) plant and a polypropylene (PP) plant, each with a capacity of 300,000 tons per year. The technologies applied in both plants, which guarantee maximum energy efficiency, are market leaders and the first of their kind to be installed on the Iberian Peninsula.
The new materials produced will be 100 % recyclable and can be used for highly specialized applications aligned with the energy transition in the pharmaceutical, automotive, and food industries.
The facilities will be operational in 2025 and will consolidate the Sines Industrial Complex as one of the most advanced in Europe due to its flexibility, high degree of integration, and competitiveness.
During the construction phase, an average of 550 jobs are expected to be generated, with a peak of more than 1,000 people. Once in operation, the net increase in personnel will be approximately 75 direct jobs and about 300 indirect jobs.
Repsol's CEO, Josu Jon Imaz, emphasized that "this investment underlines Repsol's commitment to its industrial complex in Portugal and to the generation of wealth and quality employment in the country". "The Sines Industrial Complex will become a European benchmark, and the advanced materials it will produce will play an important role in the decarbonization of society," he added.
Situated in a privileged location, this industrial center will also have new logistics facilities, incorporating the possibility of also using railroad transport. This will optimize the connection with the European market and reduce the carbon footprint of product transportation.
The new investment project has been designed in line with Repsol's goal to become a net zero emissions company by 2050, and it is aligned with targets in the Paris Agreement.