The Portuguese Investment and Foreign Trade Bureau revealed that according to the current investment situation, Portugal will become the fourth largest petrochemical producer in Europe within 3-5 years, and the petrochemical industry will account for 2.7% of its GDP. At present, Portugal is negotiating and implementing as many as 100 petrochemical investment projects, and only Portuguese oil and gas company GALP and Spanish REPSOL have invested as much as 2 billion euros in the south of the important oil port of SINES.
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