22 April 2005 17:37 [Source: ICIS news]
MADRID (CNI)--Spanish-Argentine chemicals and energy group Repsol YPF said Friday that it will invest Euro276.3m ($353.8m) by 2007 to expand its chemicals and oil refining complex at Tarragona in north east Spain.
Part of the funds will be spent to carry out a previously announced expansion of its propylene oxide (PO)/styrene monomer (SM) plant. Repsol said today it will also build a 180,000 tonne/year benzene unit to feed the PO/SM facility.
Under the expansion programme, by the first quarter of 2006 the site's PO output is to rise 33% to 200,000 tonne/year and styrene capacity will increase 32% to 450,000 tonne/year.
No one was immediately available at the firm to provide a breakdown of the investment or further comment.
Madrid-based Repsol will use part of the funds to improve the environmental standing of the site, its biggest manufacturing facility in Spain.
Repsol invested Euro293m in its chemicals division last year.
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