Reports related to this article:
Project(s): View 1 related project in PECWeb
Plant(s): View 1 related plant in PECWeb
Released July 27, 2021 | GALWAY, IRELAND
en
Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland)--Spanish oil and gas major Repsol Petroleo SA has announced plans to invest 657 million euro (US$774 million) in the expansion of the Sines Industrial Complex in Portugal.
Located about 150 kilometers (km) south of the country's capital city, Lisbon, the Sines complex will be home to two new polymer materials plants, representing the largest industrial investment in Portugal in the last 10 years. Supported by the Portuguese government, the project will benefit from tax incentives worth up to 63 million euro (US$74 million). Repsol will build a linear polyethylene (PEL) plant and a polypropylene (PP) plant, each with a capacity of 300,000 tons per year. The new materials will, like the rest of Repsol's polyolefins, be 100% recyclable. The plants are expected to be up and running by 2025.
With a current distillation capacity of approximately 220,000 thousand barrels per day (BBL/d), Sines is the main refinery in Portugal, accounting for approximately 70% of the total refining capacity. It is also one of the largest refineries in Europe. In 2013 it commissioned a hydrocracking unit and a fluid catalytic cracking unit with a capacity of 43,000 BBL/d. Diesel and jet fuel are the most important products, but it also produces naphtha and liquefied petroleum gas (LPG).
According to Josu Jon Imaz, Repsol's chief executive officer: "This investment demonstrates Repsol's commitment to its industrial complex in Portugal. The company is supporting industrial development that enables the energy transition while creating wealth and quality employment."
Repsol will also construct new logistics installations to enable the use of rail transport to improve Sines' connection to European markets while reducing its carbon-related emissions during transportation of products. The project as a whole is designed to support the company's goals of being a net zero emissions company by 2050 and is aligned with the Paris Agreement.
In its 2021-2025 Strategic Plan, Repsol aims to invest a total of 18.3 billion euro (US$21.5 billion) between now and 2025 in a variety of projects to improve its industrial activities in Europe. Almost a third of that will be spent on low-carbon businesses. The company's seven large industrial sites in Spain, Portugal, and Peru will be transformed into what Repsol called "multi-energy hubs", generating products with a "low, zero, or even a negative carbon footprint" using the latest digitalization and technology. They will concentrate on energy efficiency, the circular economy, renewable hydrogen, and the capture and use of CO2. Over 400 million euro (US$472 million) has been set aside for energy efficiency alone out to 2025, during which the company expects to reduce emissions by 800,000 tons of CO2 a year.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn.
Located about 150 kilometers (km) south of the country's capital city, Lisbon, the Sines complex will be home to two new polymer materials plants, representing the largest industrial investment in Portugal in the last 10 years. Supported by the Portuguese government, the project will benefit from tax incentives worth up to 63 million euro (US$74 million). Repsol will build a linear polyethylene (PEL) plant and a polypropylene (PP) plant, each with a capacity of 300,000 tons per year. The new materials will, like the rest of Repsol's polyolefins, be 100% recyclable. The plants are expected to be up and running by 2025.
With a current distillation capacity of approximately 220,000 thousand barrels per day (BBL/d), Sines is the main refinery in Portugal, accounting for approximately 70% of the total refining capacity. It is also one of the largest refineries in Europe. In 2013 it commissioned a hydrocracking unit and a fluid catalytic cracking unit with a capacity of 43,000 BBL/d. Diesel and jet fuel are the most important products, but it also produces naphtha and liquefied petroleum gas (LPG).
According to Josu Jon Imaz, Repsol's chief executive officer: "This investment demonstrates Repsol's commitment to its industrial complex in Portugal. The company is supporting industrial development that enables the energy transition while creating wealth and quality employment."
Repsol will also construct new logistics installations to enable the use of rail transport to improve Sines' connection to European markets while reducing its carbon-related emissions during transportation of products. The project as a whole is designed to support the company's goals of being a net zero emissions company by 2050 and is aligned with the Paris Agreement.
In its 2021-2025 Strategic Plan, Repsol aims to invest a total of 18.3 billion euro (US$21.5 billion) between now and 2025 in a variety of projects to improve its industrial activities in Europe. Almost a third of that will be spent on low-carbon businesses. The company's seven large industrial sites in Spain, Portugal, and Peru will be transformed into what Repsol called "multi-energy hubs", generating products with a "low, zero, or even a negative carbon footprint" using the latest digitalization and technology. They will concentrate on energy efficiency, the circular economy, renewable hydrogen, and the capture and use of CO2. Over 400 million euro (US$472 million) has been set aside for energy efficiency alone out to 2025, during which the company expects to reduce emissions by 800,000 tons of CO2 a year.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn.
