Spain’s Repsol to double production in Sines and create 1,500 jobs

28 July 2006

Madrid, Spain, 27 July – A 600 million-euro investment by Spanish oil company Repsol in the petrochemical complex at Sines, Portugal, will make it possible to double production and create 1,500 new jobs, the company said in a statement published in Madrid Thursday.

Repsol added that the investment project would make it possible to boost production capacity at Sines to 1 million tons of olefins and 1 million tons of polyolefins.

According to the company the project includes construction of three new units; one electrical and two for plastic products (polyethylene and polypropylene).

According to António Brufau, chairman of Repsol, the project is of great importance, as it is “competitive on an international level and very lucrative for Portugal, as it makes use of a great part of existing infrastructures,” as well as, “creating jobs and doubling the current size of the complex, generating new export capacity and thus benefits for the economy and the country’s balance of payments.”

With construction of the polyolefin units, the Sines complex will no longer be, according to Repsol, a mere exporter of raw materials.

The Spanish company expects that the construction stage of its project will require over 8 million working hours, and will employ between 1,200 and 1,500 people.

Operation of the new structures will create 120 direct jobs and 250 indirect jobs.

Repsol is one of the main Spanish groups present in the Portuguese market and had turnover in 2005 of 2.1 billion euros and employed 1,500 people. (macauhub)