Cepsa completes acquisition of Abengoa’s biofuels plant in San Roque
Spanish oil and gas firm Cepsa has formalised the purchase offer of Abengoa’s biodiesel plant in San Roque (Cádiz). The process concluded with Abengoa’s acceptance of Cepsa’s €8 million binding offer for the total purchase of the asset.
With this operation, Cepsa culminates the integration of the biofuels production unit at its San Roque plant where fuels are produced from renewable sources.
Abengoa started operations at the plant next to the refinery in 2009, but stopped production in 2015. This means the plant can continue to provide employment to its current 51 workers.
Cepsa said it believes the acquisition of the production unit, which is due to be fully operative again during 2017, is a “great opportunity” because of the new synergies the operation contributes to the company.
In a statement, the company said: “Cepsa, one of Spain’s leading energy companies, has set the development and integrated management of its biofuel business as a target for the coming years, which it plans to achieve by optimising production and drawing on its experience and technical excellence.
“With this operation, Cepsa continues to invest in Andalusia and its industrial production, where it has operated for over 50 years, generating more than 3,600 direct jobs, 2,600 indirect ones and 6,000 more induced and temporary jobs.”
Cepsa is the region's leader in production with a turnover of more than €14.5 billion, 10% of Andalusian GDP. Cepsa in San Roque has over 1,300 direct employees, 3% of the province’s total industrial sector.
In line with this, in 2016 Cepsa announced a five-year investment plan of more than €130 million to improve its petrochemical facilities in San Roque. The plan includes an immediate investment of over 50 million in major projects to improve energy efficiency, safety and compliance with environmental regulations at its centres in Andalusia.