The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Utilities Electricity, Gas, Steam And Air Conditioning Supply Electricity, Gas, Steam And Air Conditioning Supply 35.2 - Manufacture of gas; distribution of gaseous fuels through mains
500 jobs Number of planned job creations
Announcement Date
18 September 2008
Employment effect (start)
1 January 2011
Foreseen end date
Description
The Repsol's CEO, the Prime Minister and the Minister of Economy have announced the launching of the Sines Petrochemical Complex expansion project. As a result, around 500 jobs will be created, and during the building process, more than 1,500 workers will be employed. This important project is one of company's main worldwide growth projects to be carried out in the Iberian Peninsula and represents an investment of more than EUR 1 billion.
The expansion of the Repsol Sines Complex contemplates the building of one new lineal polyethylene and new polypropylene unit that will significantly increase the current petrochemical complex production. In addition, a cogeneration plant of 45 megawatts (Mw) will be built with the aim of increasing the Complex's efficiency and becoming one of Europe's most advanced technological centres.
Sources
18 September 2008: Público
Citation
Eurofound (2008), Repsol, Business expansion in Portugal, factsheet number 67156, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/67156.
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