Adding almost a quarter of a million barrels a day to the capacity of the Repsol oil refinery at Cartagena will make it one of the biggest and most modern in the world. The massive project will cost 3.2 billion euros, which makes it the largest single industrial investment ever made in Spain. The new facilities are forecast to come on stream in 2011.
The regional government of Murcia and the town hall of Cartagena are delighted at the vote of confidence by Repsol . It is expected that once the expansion is in production an extra 300 jobs will have been directly created with another 400 indirect jobs in companies providing support to the facility. In addition, it is forecast that about 1,500 more jobs could be added by the development of business activities associated with the expanded refinery. It is estimated that a total of 115 million euros will be paid each year in salaries once the project is completed and the plant will represent 18 percent of total industrial employment in the Cartagena area.
Repsol pointed out in its announcement of the new project that significantly increased tax income will be generated for the area by the expansion of the facility. The port will also be boosted by the increased maritime traffic. The expansion will see 30 new processing units constructed on an area covering about 60 hectares.
The new Cartagena project is an important strategic initiative for Spain and it is expected that an increased output of diesel will significantly reduce shortages of that fuel.