The project of Spanish oil company Repsol in the petrochemical complex at Sines, Portugal, will be launched in Q3-2007. Repsol plans to invest over 1 billion euros in Portugal over the next four years, of which, 650 million euros, is to be invested in doubling production capacity at the Sines petrochemical complex. The Sines project includes the construction of three new units, a co-generation unit and a polyethylene and polypropylene plant, boosting production by 40% to 570,000 tpa.
The remainder will be invested in increasing the company's network of gas stations, as Repsol wants to increase its current market share from 20% in the fuel retailing sector, and on marketing.
Repsol, which is officially called Repsol YPF after acquiring Argentinean company YPF, is one of the large conglomerates in the petrochemical sector operating in 29 countries in Latin America, the Middle East and North Africa.
12-Oct-06 
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