Maire Tecnimont S.p.A. announces that its subsidiary Tecnimont S.p.A. has been awarded a contract by Repsol for the realization of a Polypropylene Unit and a linear Polyethylene Unit on an EPC (Engineering Procurement and Construction) Lump Sum Turn-Key basis, as part of Repsol’s expansion of Sines Industrial Complex in Portugal.
The total contract value is approximately €430 million. The project scope of work entails complete engineering services, equipment and material supply, installation and construction activities and, as an optional part of the scope, commissioning and start up. The project completion is expected by 2025. The new Polypropylene and linear Polyethylene Units, which represent the largest industrial investment in Portugal in the last ten years, will have a capacity of 300,000 tons per year each and will be located inside Repsol’s industrial complex in Sines, Portugal. The technologies applied in both units will guarantee maximum energy efficiency and will be the first of their kind to be implemented in the Iberian Peninsula, making the Sines Industrial Complex one of the most advanced in Europe due to its flexibility and high degree of integration.
Repsol is a global multi-energy company established in Spain and listed on the Spanish Stock Exchange for 25 years. Its products are distributed in nearly 100 countries to around 24 million customers. Repsol Industrial Complex in Sines is the largest chemical site in Portugal.
Pierroberto Folgiero, Maire Tecnimont Group Chief Executive Officer, commented: “We are really enthusiastic to support a reputable player such as Repsol in its industrial commitment to enabling its petrochemical expansion while creating sustainability, wealth and quality employment. We are honoured to play a strategic role in the largest investment in Portugal in the last decade, contributing with our technological know-how and distinctive competences in managing innovative projects to implement these next generation units, which will produce high quality plastic materials for highly specialized applications”.
By Marietecnimont, Press Release
Eastman is investing up to US$1 billion in building what it says is the world’s largest molecular plastics recycling facility in France. The new facility would use Eastman’s polyester renewal technology to recycle up to 160,000 metric tons of hard-to-recycle plastic waste annually – enough plastic waste to fill Stade de France national football stadium 2.5 times.
Korean battery maker LG Energy Solution has opened the books to investors to raise up to $10.8 billion in the country’s largest initial public offering (IPO), according to a term sheet seen by Reuters. The shares will be sold in a price range of 257,000 won to 300,000 won ($216.19-$252.36) apiece to raise between $9.2 billion and $10.8 billion, the term sheet showed.
The SHYNE (Spanish Hydrogen Network) project is the largest multisectoral consortium in Spain, created to promote the decarbonization of the economy through renewable hydrogen. SHYNE will have a total investment of €3.23 billion euros that will serve to develop more competitive technologies and evolve both the Spanish industry and its infrastructure towards decarbonization, generating more than 13,000 jobs.