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Markets :: Plastics :: Polyethylene

Brussels Approves State Aid for Repsol Expansion in Portugal

11:20 AM MDT | August 7, 2007 | Chemical Week Editorial Staff

The European Commission has approved €150 million ($204 million) of investment aid from the Portuguese government to Repsol Polimeros, a Repsol subsidiary, for a previously announced project to build linear low-density polyethylene (LLDPE) and polypropylene (PP) plants, and expand ethylene capacity, at Sines, Portugal. The aid takes the form of corporate tax relief and a soft loan. The total investment cost is €750 million. The project will create 512 jobs in Alentejo, Portugal, “a disadvantaged area eligible for regional aid” under European...

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