Repsol has announced that it is expanding its industrial complex in Sines (Portugal) with the construction of two new polyolefin production plants.
The project, budgeted at €657 million, will create one of the most modern production complexes in Europe.
The company is planning to build a linear polyethylene (PEL) plant and a polypropylene (PP) plant, each with a capacity of 300,000 tons per year. The energy efficient technologies to be installed at both plants are the first of their kind to be used on the Iberian Peninsula. The systems should be ready for operation in 2025.
New logistics facilities are also planned at the Sines Industrial Complex to open up the possibility of rail transport. This will improve the connection with the European market and reduce the transport-related carbon emissions of the products.
The new investment project underlines Repsol’s goal of becoming a net zero emissions company by 2050 and is in line with the Paris Agreement. The Portuguese government has classified the investment as one of national interest and has granted tax incentives worth up to €63 million.
During the construction phase, an average of 550 direct and indirect jobs will be created. Once the project is up and running, the net increase in employment will be around 75 direct jobs and around 300 indirect jobs.
Repsol's strategic plan 2021-2025 envisages a total investment of 18.3 billion euros between 2021 and 2025. The company is already in the process of converting all of its industrial complexes into multi-energy hubs and equipping these with the latest technologies to promote the decarbonisation of its processes.
Repsol manufactures and markets a wide variety of petrochemical products, ranging from basic petrochemicals to derivatives, including a wide range of polyolefins, all of which are 100% recyclable. The company is committed to an efficient chemicals business with products with a lower carbon footprint and geared towards circular economy, and its goals include recycling the equivalent of 20% of its polyolefin production by 2030.