Link Securities| Repsol issued a note yesterday in which it pointed out that the possibility of maintaining a tax on energy companies, which was conceived as temporary and extraordinary, punishes companies that, like REP, invest in industrial assets, generate employment and guarantee the country’s energy independence, the daily Expansión reported. Instead, it favours importers that do not generate employment or relevant economic activity in Spain. Consequently, the company adds that the lack of stability in the country’s regulatory and fiscal framework could condition the group’s future industrial projects in Spain.
Thus, the newspaper interprets Repsol as saying that although it will keep its headquarters in Spain, and the refineries and other facilities it already has in operation, it will reconsider where to establish new projects, whether inside or outside the country. The energy company indicated that one alternative could be to move to Portugal. For example, one of the most ambitious projects it wants to develop now is the so-called “Ecoplanta”, which it would initially like to build in Tarragona. The project, with an investment of between €700 and €800 million, aims to create the largest methanol plant in Europe.
