Repsol YPF to buy Borealis' Portugal petrochemicals complex

By OGJ editors

HOUSTON, Nov. 8 -- Repsol YPF has signed an agreement with Copenhagen-based Borealis AS to purchase Borealis' Polímeros Lda. petrochemical complex at Sines, Portugal.

Assets include a cracker with a 2003 production volume capacity of 350,000 tonnes/year of ethylene and 180,000 tonnes/year of propylene and two polyethylene plants—a 145,000-tonne low-density plant and a 130,000-tonne high-density plant.

The deal will increase Repsol's cracker production capacity by 38%, its total polyolefins production capacity by 28%, and its polyethylene production capacity by 55%.

Completion of the transaction is subject to European Commission approval.

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