Repsol Chairman Antonio Brufau and CEO Josu Jon Imaz 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 EUR 657 million in the expansion of its Sines Industrial Complex, located on the Portuguese coast. This project, formalized today, has been considered by the Portuguese Government as an initiative of Potential National Interest, 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 63 million euros.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 plant and a polypropylene 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, as the rest of Repsol's polyolefins, and they 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.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.
Repsol Chairman Antonio Brufau and CEO Josu Jon Imaz 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 EUR 657 million in the expansion of its Sines Industrial Complex, located on the Portuguese coast. This project, formalized today, has been considered by the Portuguese Government as an initiative of Potential National Interest, 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 63 million euros.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 plant and a polypropylene 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, as the rest of Repsol's polyolefins, and they 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.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.
